From: Eric Becker
To: Nancy Morris, Secretary, U.S. Securities and Research Commission Comment on File Number S7-16-07
I am writing to comment on File Number S7-16-07, the Release proposing amendments to the Rules under the Securities and Exchange Act of 1934 “concerning shareholder proposals and electronic shareholder communications”.
I feel strongly that the SEC’s proposals to eliminate the shareholder resolution process or make it more difficult to sponsor resolutions should not be adopted.
There is a long history of demonstrated positive results from shareholder resolutions with companies making specific reforms and changing policies. I urge the SEC to uphold the right of investors to sponsor resolutions for action at stockholder meetings. These proposals are contrary to those interests.
Adding higher restrictive thresholds on resubmitting resolutions simply makes it more difficult for investors seeking to engage companies on significant issues. I oppose changes in the resubmission thresholds.