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Institutional Investors Call on U.S. Securities and Exchange Commission to Implement Financial Market Reforms

According to a recent news release,

"A coalition of institutional investors from around the globe today released a list of financial market reform priorities that they believe are necessary to protect shareowner rights and bolster investor confidence.

The 14 pension funds and plan sponsors representing $1.6 trillion in assets called on the U.S. Securities and Exchange Commission to complete what they called 'unfinished business' in the wake of the financial crisis.

The list of financial market reform priorities – entitled An Investor’s Framework for the Future: Financial Market Reform Priorities for the SEC – outlines six initiatives that the SEC should complete, including:

Appoint the Investor Advisory Committee to provide the Commission with investors’ perspectives on regulatory issues; appoint the Investor Advocate to champion investor rights.

Renew rulemaking for universal proxy access so that investors can propose directors for boards on a level playing field with managem…