February 13, 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 am writing regarding the proxy process.
I have worked for a small company for several years and during that time I have been fortunate enough to invest in some mutual funds.
I am troubled that these funds rely on proxy advisory firms for guidance on issues without me knowing anything about how they came to the conclusions that they did. I am worried that proxy advisers are being told what to do by a third party and they could care less about what I want and that it could even be politically motivated. I even heard that sometimes proxy advisory firms take on companies they rate as clients, which could taint their recommendations.
There really must be more transparency in this process and I deserve to know who is really making the decisions regarding my money. I highly encourage that the Congress and SEC take the time to create regulations to create a greater disclosure and transparency for proxy firms.
Sincerely,
Therese Garvey
St. Charles, Illinois