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Article

9 Jan 2014

Author:
Investors Against Genocide

SEC rules Franklin Resources may not omit genocide-related proposal from proxy

Today, the [US] Securities and Exchange Commission [SEC] made public a rejection of the attempt by Franklin Resources, parent company of Franklin Templeton..., to suppress a genocide-free investing shareholder proposal from its proxy ballot...The proposal, coordinated by Investors Against Genocide, requests “that the Board institute transparent procedures to avoid holding or recommending investments in companies that, in management’s judgment, substantially contribute to genocide or crimes against humanity..." ...[The] SEC...stated, “...[The] proposal focuses on the significant policy issue of human rights and does not seek to micromanage the company.”...Eric Cohen, chairperson of Investors Against Genocide [, said,] "Americans...do not want their pensions and family savings connected to genocide...[Ordinary] investors who see the proposal will vote their values..." ...[Votes] on genocide-free investing at JPMorgan Chase have drawn support from T. Rowe Price, CalPERS, CalSTRS, Connecticut State Pension, Florida State Board of Administration, New York State Pension, NYCERS [and others]... [also refers to PetroChina, TIAA-CREF, American Funds (part of Capital Group)]

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