Proxy Fee Advisory Committee (PFAC)

The Proxy Fee Advisory Committee (PFAC), which was formed by the New York Stock Exchange, published on May 16, 2012 its recommendations for changes to the fees paid by public companies to banks and brokers for the distribution of proxy materials to shareholders who hold their stock in “street name.”  Composed of listed companies, broker dealers and investors, the PFAC was formed in September 2010 to review the existing proxy distribution fee structure and make recommendations for change.

The goals of the Committee have been to support the current proxy distribution system, including continued support for the elimination of mailings; to encourage and facilitate active voting participation by retail beneficial owners; improve transparency of the fee structure and ensure that fees are as fair as possible and aligned with the work involved.

Reports/Rule Filings Related to Proxy Fees (NYSE Rule 451 and 465)

Date Document

09 Jan 2014

Enhanced Broker's Internet Platform (EBIP) Form
09 Jan 2014 Information Memo - Enhanced Brokers Internet Platform (EBIP) Form
09 Jan 2014 Notice of Filing and Immediate Effectiveness of Proposed Rule Change Making Effective as of January 1, 2014 Recently
Approved Changes to NYSE Rules 451 and 465, and the Related Provisions of Section 402.10 of the NYSE Listed Company Manual
18 Oct 2013 Order Granting Approval to Proposed Rule Change Amending NYSE Rules 451 and 465, and the Related Provisions of Section 402.10
15 Oct 2013 Comments submitted by Paul F. Washington, Chairman of the NYSE's Proxy Fee Advisory Committee
01 Oct 2013 NYSE comments submitted to the SEC in support of Proposed Rule Change Amending NYSE Rules 451 and 465, and Related Provisions of Section 402 of the NYSE Listed Company Manual. (PDF)
09 Sep 2013  NYSE comments submitted to the SEC in support of Proposed Rule Change Amending NYSE Rules 451 and 465, and Related Provisions of Section 402 of the NYSE Listed Company Manual. (PDF)
09 Jul 2013 NYSE comments submitted to the SEC in support of Proposed Rule Change Amending NYSE Rules 451 and 465, and Related Provisions of Section 402 of the NYSE Listed Company Manual. (PDF)
03 Jun 2013 Proxy Fees: What's at Stake? - Governance Minutes
17 May 2013 NYSE comments submitted to SEC regarding amendments to NYSE Rules 451 and 465, and the related provisions of Section 402 of the NYSE Listed Company Manual (PDF)
05 May 2013 Notice of Filing of Proposed Rule Change Amending NYSE Rules 451 and 465, and Related Provisions of Section 402.10 of NYSE LCM (PDF)

Reports/Rule Filings Related to Other Matters

Date Document
20 Oct 2010 NYSE comments submitted to SEC regarding concept release on U.S. proxy system (PDF)