Securities and Exchange Commission (SEC) reform would make boards of directors more accountable to long-term investors.

The SEC is expected soon to propose historic new rules to give long-term shareholders greater access to the director nomination process. The retirement savings of America’s working families has been harmed by the failure of boards of directors to prevent wrongdoing at Enron, WorldCom and other scandal-plagued companies. By adopting strong proxy access rules, the SEC can end the self-perpetuating system that permits incumbent boards to hand-pick director candidates. This would be a critical step toward making boards of directors more accountable to long-term investors.

• Download an AFL-CIO fact sheet on shareholder access to the proxy.
• Read the AFL-CIO’s rule-making petition calling on the SEC to grant long-term shareholders access to the proxy.
• Read the SEC staff report recommending improved shareholder access to the director nomination process.