Votermedia Finance Blog

March 30, 2010

FINRA Foundation turns down voter funding proposal

Filed under: Uncategorized — Tags: — Mark Latham @ 4:57 pm

Yesterday I received this response from the FINRA Foundation to the Voter Funded Investor Education proposal I sent them last October:

Thank you for submitting your proposal. I apologize for not responding more quickly. At this time, we think our grant making process works very well. In addition, your proposal would be difficult to implement under the Global Research Analyst Settlement. I appreciate your thoughtfulness in preparing this proposal.

I will continue to look for ways of funding a pilot program to test how effective voter allocation can be, not only for investor education, but also to help us retail investors vote our proxies. Now that a consensus is building in support of Client Directed Voting, a little funding could go a long way toward supporting proxy voting advice and systems for sharing it freely.

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