

Please try another search
By Stephen Nellis
(Reuters) - The U.S. Securities and Exchange Commission has declined an effort by Apple Inc (NASDAQ:AAPL) to skip a shareholder proposal asking the iPhone maker to provide greater transparency in its efforts to keep forced labour out of its supply chain.
A group of shareholders earlier this year asked Apple's board to prepare a report on how the company protects workers in its supply chain from forced labour. The request for information covered the extent to which Apple has identified suppliers and sub-suppliers that are a risk for forced labour, and how many suppliers Apple has taken action against.
In a letter from the SEC reviewed by Reuters on Wednesday, regulators denied Apple's move to block the proposal, saying that "it does not appear that the essential objectives of the proposal have been implemented" so far.
The letter means that Apple will have to face a vote on the proposal at its annual shareholder meeting next year, barring a deal with the shareholders who made it.
Apple did not immediately respond to a request for comment.
American lawmakers last week passed a bill banning imports from China's Xinjiang region over concerns about forced labour.
"There's rightfully growing concern at all levels of government about the concentration camp-like conditions for Uyghurs and other Turkic Muslims living under Chinese government rule," Vicky Wyatt, campaign director for SumOfUs, a group supporting the shareholder proposal, said in a statement on Wednesday.
Apple routinely asks the SEC to skip shareholder proposals, and the requests are granted about half the time.
The SEC also denied Apple's request to skip a shareholder proposal that would give investors more information about the company's use of non-disclosure agreements.
By Tom Sims, Alexander Hübner and Jonathan Stempel NEW YORK/MUNICH (Reuters) -Germany's Allianz (ETR:ALVG) SE agreed to pay more than $6 billion and its U.S. asset management unit...
WASHINGTON (Reuters) - The U.S. Justice Department on Tuesday sued former Wynn Resorts (NASDAQ:WYNN) CEO Steve Wynn to compel him to register under the Foreign Agents...
By Herbert Lash NEW YORK (Reuters) - Global equity markets rallied and Treasury yields rose on Tuesday, as solid U.S. retail sales in April suggested economic growth might...
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.