After the SEC issued its Concept Release on the U.S. Proxy System, the New York Stock Exchange (NYSE) established a Proxy Fee Advisory Committee in September 2010 to evaluate the NYSE proxy fee schedule. The membership of the Committee comprised brokers, public companies, and institutional investors.
On May 16, 2012, the Committee published its recommendations for fees paid by public companies to banks and brokers for the distribution of proxy materials to shareholders holding their stock in "street name." Click here for a copy of the Committee's report: NYSE PFAC Report 5-16-2012.pdf
The NYSE issued a press release on May 16, 2012, summarizing the recommendations of the Proxy Fee Advisory Committee and on February 1, 2013, the NYSE filed a proposed rule change with the SEC to update its proxy fee schedule. More information on this rulemaking can be obtained on the Securities and Exchange Commission page of this website.