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Shapiro: IFRS Call in ‘Few Months’

SEC chairman says her biggest regret is loss on proxy-access rule.

By Jesse Hamilton | Updated on January 05, 2012

U.S. Securities and Exchange Commission Chairman Mary Schapiro said her chief regret in three years running the agency was the failure to beat a court challenge of a rule letting shareholders put their own board candidates on corporate ballots.

“I would love to have found a way to structure that rule and its cost-benefit analysis in such a way that it could have withstood the court challenge that was brought against it,” Schapiro said today in an interview with former SEC Chairman Arthur Levitt to air on Bloomberg Radio. “I still believe that it could be an incredibly important tool for shareholders to hold boards accountable for the conduct of companies.”

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