Professor Ronald Colombo was quoted in Matthew Huisman’s November 29, 2012 article “Schapiro is Credited With Reversing Course at Beleaguered SEC” for the New York Law Journal. Professor Colombo was quoted as saying that “Her biggest legacy, I would suggest, is a reversal of the direction and the approach of the SEC toward its mission[.] Rightly or wrongly, the impression had become that the SEC was sort of asleep at the wheel.” Colombo went on to note that “Schapiro failed to accomplish some of her goals because she ‘overcorrected and overextended’ in some areas. For example, he said, Schapiro supported giving significant minority shareholders the right to nominate their own board candidates. This policy, known as proxy access, was rejected by the D.C. Circuit.”
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