Canada:
NYSE Disallows Broker Voting Of Uninstructed Shares On Corporate Governance Proposals
06 February 2012
Stikeman Elliott LLP
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On January 25, NYSE Euronext announced
that it would no longer permit broker voting of uninstructed shares
in the case of certain corporate governance proposals previously
categorized as "Broker May Vote". The change in policy
follows the
elimination of discretionary voting by brokers in director
elections in 2010 and the prohibition introduced by
the Dodd-Frank Act respecting
discretionary voting by brokers on executive compensation.
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