Volume 1, May 2012
         Independent Steering Committee Newsletter

The Broadridge Independent Steering Committee (“the Steering Committee”) was formed in 1993 to serve as an independent oversight body charged with monitoring the performance, voting accuracy and readiness of Broadridge and its predecessor firm in conducting the US street name proxy system on behalf of the nation’s banks and brokers.

The Steering Committee, organized from within the securities industry with the encouragement of the SEC, consists exclusively of persons who are neither current nor former employees of Broadridge ("BR"). The members represent the four industry groups involved in the proxy process:  issuers, institutional investors, brokers and custodian banks.

The purpose of this Newsletter is to share with a wider audience the developments that are shaping the US proxy system and to encourage broad participation in promoting the efficiency and integrity of that system.

The matters discussed below were addressed by the Steering Committee at its meeting held in New York City on March 6, 2012.

Stephen P. Norman
President, SPNorman&Co., LLC
Chairman, The Broadridge Independent Steering Committee
Comments or suggestions may be sent to steve@spnormanco.com.

  • Planning and Readiness for the 2012 Proxy Season
  • Disaster Recovery (DR) and Business Continuity Planning (BCP)
  • Data and Information Security
  • Technology Enhancements
  • End-to-End Vote Confirmation
  • Mobile Proxy Voting and Quick Response Codes (QRC) Pilot
  • Digital Mail
Regulatory Update
  • Keir D. Gumbs update to the Steering Committee
  • Dodd-Frank requirements for Say-on-Pay
  • Shareholder access and rules to expand compensation regulations
  • Claw-back update and new disclosures regarding “conflict minerals”
Enhanced Broker
 Internet Platforms
  • Efforts to improve voting rates
  • The appeal of voting on the broker’s EBIP
  • Suggestions to encourage brokers to offer EBIP
Virtual Shareholder  Meetings
  • Subcommittee advocates to consider VSM meetings
  • VSM’s enable investors to participate
  • Subcommittee to develop list of best practices