Joseph Caruso

Joseph Caruso presents a case for eliminating the OBO classification Over the last several years government agencies, institutional investors and proxy advisory firms have been seeking greater corporate transparency in public filings to build trust and improve corporate governance. However, such efforts would be better served on a level playing field because, at present, not all shareholders are required to play by the same rules of transparency. Unlike registered shareholders (record holders) who hold their shares directly with a public company, beneficial owners (street-name shareholders) hold their shares indirectly through a brokerage firm or other financial intermediary (custodian), which serves…