Statement by AFL-CIO President Richard L. Trumka on Securities and Exchange Commission's Adoption of Proxy Access Rule

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Statement by AFL-CIO President Richard L. Trumka on Securities and Exchange Commission's Adoption of Proxy Access Rule
August 25, 2010

Today the Securities and Exchange Commission has taken an important and historic step in empowering long-term investors. Investors and public interest advocates have looked to the Commission to provide greater disclosure in the area of corporate elections for close to 70 years. We applaud Chairman Mary Schapiro and the Commission for conducting a thoughtful and deliberate review of the comments it received under the current proposal.

The AFL-CIO is the umbrella organization for America's unions, representing 11.5 million workers nationwide. Union-sponsored pension plans hold more than $480 billion in assets.

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