November 2, 2018
October 31, 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
Dear Mr. Fields:
I appreciate the opportunity to comment on such a matter of importance to me as the proxy process.
I have been working since I was 13 years old just to make ends meet and to help support my family. It hasnt been until my later years that I have been able to invest, and I am grateful to be able to do so.
I receive notices in the mail of proxy voting along with recommendations from the companys Board of Directors on the issues. Most of the time I would agree with the recommendations as all I want is to be sure that votes are being cast in line with what is best for the company and for shareholders like myself. With that said, there are times when outside interests like proxy advisors are swaying how the funds I am invested in cast their vote, and there is no assurance they have my best interest in mind. As a matter of fact, I have been hearing from my friends that many managing mutual funds such as mine are voting almost entirely at the direction of these third party proxy advisors, using my and many other shareholders hard-earned money for other interests.
This absolutely cannot be allowed to continue and there must be more transparency. Proxy advisors should be required by law to be completely honest in disclosing the viewpoints they represent, the objectives of those views, the financial impacts of their recommendations, and any relationships they may have that impact recommendations.
I thank you most sincerely for your time and consideration.
Mark M. Robinson