From today's Australian Newspaper,Ownership Matters slams Frydenberg’s proposed proxy adviser fines, reforms
"Crushing fines of up to $11m if proxy advisers fail to email copies of their reports to listed companies on the same day they are delivered to clients have been condemned as “loopy” and an approach “dreamt up in Pyongyang”.
The proposed reforms also require advisers to make notes of verbal conversations about voting issues discussed with investors and share them with the companies under scrutiny.
Dean Paatsch, principal of influential advisory firm Ownership Matters, slammed Josh Frydenberg’s new rules, which the Senate will consider in a vote scheduled for February 10."
ISX off-topic thread, page-3537
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