09 October 2003

SEC to Vote on Corporate Governance

SEC to Vote on Corporate Governance (washingtonpost.com): "SEC to Vote on Corporate Governance

AP Business Writer
Wednesday, October 8, 2003; 9:22 AM

Federal regulators are moving to make it easier for major shareholders to install directors on company boards over opposition from corporate CEOs -- an effort to make companies more accountable.

The far-reaching proposal by the Securities and Exchange Commission not only is designed to make companies more answerable for their actions, but it also is aimed at preventing boards from functioning as rubber stamps for executive action. The goal is to bolster investor confidence rattled by last year's wave of corporate scandals. "

Look for more companies to go private over the next few years.

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