EXTRACT: Other foreign corporations that would be subject to the rule include Sony Corp., Toyota Motor Corp, Honda Motor Corp., Royal Dutch Shell, and Deutsch Telekom.
THE ARTICLE
SEC Petitioned to Issue ‘BP Rule’; U.S. Investors Should Have Traditional Shareholder Rights in Foreign Companies That Lobby or Have Significant Social Impacts, Free Enterprise Action Fund (Ticker: FEAOX) says
Last Update: 9:11 AM ET Sep 5, 2006
WASHINGTON, Sept 05, 2006 /PRNewswire via COMTEX/ — Action Fund Management, LLC (AFM), investment advisor to the Free Enterprise Action Fund (Ticker: FEAOX), announced today that it has petitioned the U.S. Securities and Exchange Commission (SEC) to commence a rulemaking that would enable U.S. investors in certain foreign corporations — those that advocate on public policy or significantly impact national security, the economy and the environment — to vote in director elections and to submit shareowner proposals. read more
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