Companies Urged to Improve Proxy Bid Details as Proposals Surge

Companies need to “be as candid as possible” to shareholders about the details and backers of proxy proposals, an official from the New York Comptroller’s Bureau of Asset Management said Wednesday.

Overwhelmed investors face a “huge challenge” sifting through streams of filings for hundreds of proposals in the Spring months, said Yumi Narita, executive director of corporate governance at the Comptroller’s office, at a Practising Law Institute event in New York.

“It is a pain to have to go back and read through multiple different regulatory filings to try and find out exactly the material you need to make a ...