|SEC APPROVES NYSE PETITION TO IMPLEMENT NEW PROXY DISTRIBUTION FEE SCHEDULE AS OF JANUARY 1, 2014||MORE »|
On January 9, 2014, the U.S. Securities and Exchange Commission (SEC) approved a filing by the New York Stock Exchange (NYSE) to implement the new proxy distribution fee schedule with immediate effect. The current fee schedule has been in effect since 2002. The following document gives a brief overview of the expected impact of the new fee schedule on issuers, and also provides insight on a new fee approved by the SEC, for the creation of an Enhanced Broker Internet Platform.
|2014 Shareholder Meeting Handbook||MORE »|
The 2014 Shareholder Meeting Handbook provides clients with important information for their annual shareholder meetings. It contains information covering timing requirements, key participants, process overviews and value-added services that clients might utilize as well as contact details for the DR Division's specialized Governance and Proxy Group.
|2014 LATIN AMERICA PROXY SEASON VOTING RESULTS||MORE »|
BNY Mellon is pleased to present a detailed study on the voting characteristics of holders of Depositary Receipts (DRs) at seventy-two Latin American companies' shareholder meetings in 2014. This study includes a sample of forty-four companies from seven countries, listed on either the over-the-counter market (OTC), or NASDAQ or NYSE exchanges.
|Russian Dividend Tax Update||MORE »|
Russian Dividend Tax Update
|2014 Western Europe Voting Study||MORE »|
BNY Mellon is pleased to present a detailed study on the voting characteristics of holders of American Depositary Receipts (ADRs) at 44 Western European companies' shareholder meetings in 2014. This study includes a sample of 41 companies from 9 countries, listed on either the over-the-counter market (OTC), the NASDAQ and NYSE Markets.
|2014 Russian Proxy Season Voting Results||MORE »|
BNY Mellon is pleased to present a detailed study on the voting characteristics of holders of Depositary Receipts (DRs) at 35 Russian company shareholder meetings conducted in 2014. This study includes 29 companies from the Russian Federation for which BNY Mellon acts as depositary bank and that have DRs trading either on the over-the-counter market (OTC), Portal Market, or with Regulation-S programs listed on the London Stock Exchange.
|Holders of Russian Depositary Receipts (DRs) and Shares Must Disclose Beneficial Ownership||MORE »|
At the beginning of 2014, Russian Federal Law 306-FZ went into effect, requiring beneficial owner information disclosure in order to avoid a 30% non-disclosure withholding tax rate. This paper provides an overview of 1) 306-FZ for DRs, 2) options available to initiate DR tax reclaim procedures, and 3) the events, in the form of a timeline, related to the 'Relief at Source' and 'Quick Refund' tax reclaim processes.
|Russian Regulatory Update - Federal Law No. 415-FZ||MORE »|
BNY Mellon is pleased to inform our issuer clients, investors, and other market participants on the status of Russian Federal Law No. 415-FZ. Specifically, our regulatory update provides insight into the provisions of the law related to mandatory beneficial owner disclosures for the purposes of receiving dividend payments and voting at issuer shareholder meetings.
|BNY Mellon DR Submission to the SEC on the NYSE Proposed Rule Change to Amend the Proxy Distribution Fee Schedule||MORE »|
The New York Stock Exchange (NYSE) submitted a proposal to the U.S. Securities and Exchange Commission (SEC) on February 15, 2013 to amend the current proxy fee distribution schedule, which has been in effect since 2002. This fee schedule impacts all depositary receipt issuers that solicit proxies in the United States. As with all proposed rule changes, the SEC established a comment period to allow all interested market participants the opportunity to weigh in on NYSE's proposed rule change. Through this forum, the BNY Mellon Depositary Receipt Division formally responded to the SEC's request for comments, highlighting areas of the proposal that we support, and aspects of the proposal we believe require further examination prior to approval. For more information on the NYSE's proposed rule change, please see the SEC website at http://www.sec.gov/rules/sro/nyse/2013/34-68936.pdf. Additional comments on the proposed rule change can be found at http://www.sec.gov/comments/sr-nyse-2013-07/nyse201307.shtml