February 11, 2019
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 have some concerns that I would like to share with you regarding the lack of transparency and conflicts of interest associated with proxy advisory firms.
I am a shareholder and I am most concerned that proxy advisory firms do not have the oversight that is needed. I am aware of bipartisan legislation that had been introduced in the past that force proxy advisory firms to disclose more information to the public about their ratings and conflicts of interest. I would hope that this legislation is reintroduced this year and is passed. The fact that special interests groups have taken over companies through proxy voting is absolutely unacceptable to me In the meantime, I hope the SEC takes more action to examine the practices of these firms.
I have worked since I was 16 years old and the lack of transparency associated with proxy advisory firms is a direct threat to my hard-earned money that I have saved and invested for my retirement. I would never be able to get way with the lack of transparency in my business and it certainly shouldnt be allowed to continue in the proxy process.
Please take whatever steps are necessary to create transparency and fairness in the process.
Respectfully,
Osmi Lopez