David Baris Quoted in American Banker Article, “Latest Investor Gripe? Lack of Annual Meeting Webcasts”

David Baris was quoted in Kristin Broughton’s American Banker article, “Latest Investor Gripe? Lack of Annual Meeting Webcasts,” on May 27, 2016.

Think of webcasts as the C-SPAN of shareholder democracy.

Annual meetings are often sleepy affairs, where directors are easily re-elected and compensation packages are approved without a hitch, and many banks don’t broadcast the forums online. About half of U.S. banks with more than $50 billion in assets — including Comerica, Fifth Third Bancorp and U.S. Bancorp — did not offer a real-time feed of their meetings this year.

As a result, some investors are insisting that more banks offer webcasts, insisting that doing so would improve corporate governance.

A bank’s management team is responsible for determining whether or not a meeting should be webcast, said David Baris, a partner at the law firm BuckleySandler and president of the American Association of Bank Directors.

“There are no rules on this,” Baris added. “It’s a function of the shareholder base, the attitude of the bank and how they view shareholder meetings.”

Click here to read the full article at www.americanbanker.com (subscription required).

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