Today, SEC Chairman Jay Clayton addressed the participants of the PLI 49th Annual Institute on Securities Regulation in NYC. His prepared, written remarks stated:
Over the years, participants in the proxy process – companies and shareholders alike – have expressed concerns about a variety of proxy matters. In 2010, the SEC solicited input on several proxy matters in a concept release on the U.S. proxy system.[14] Since that time, the SEC staff has taken steps to enhance the proxy process, but calls for action are becoming more frequent and are growing louder. [15] It is clear there are still opportunities for improvement. I believe the Commission should consider reopening the comment file on the 2010 “Proxy Plumbing” concept release to solicit updated feedback from market participants about what works and what does not work in our proxy system.
Great idea. Unfortunately, the SEC seems to have a lot of other things to do, and proxy plumbing might only appear on its "Long-term Agenda".