November 16, 2018
Mr. Brent J. Fields Secretary
A Coalition of Growth Companies
U.S. Securities and Exchange Commission
100 F Street, NE Washington, DC 20549-1090
Re: File Number 4-725 SEC Staff Roundtable on the Proxy Process
I own a small construction company where I and my employees invest mostly in mutual funds. I am particularly frustrated by the lack of disclosure and transparency when it comes to the voting recommendations my fund managers receive.
I fully support the SECs efforts to create greater disclosure and transparency for proxy advisory firms. I realize only two firms dominate the market of information and to advice to institutional buyers. The lack of information as to why and how they make their recommendations is frustrating.
Specifically, Id like to understand if these firms have any potential conflicts of interest or biases based on either direct ownership, investment, contracts or other financial arrangements that might influence their decision-making process. At least with minimal information, an investor could make an educated decision or raise the appropriate concerns.
Thank you for your time and consideration.