U.S. SEC rejects Apple bid to block shareholder proposal on forced labour -letter
Information about U.S. SEC rejects Apple bid to block shareholder proposal on forced labour -letter
Kevin David Scam or Legit
By Stephen Nellis
(Reuters) – The U.S. Securities and Exchange Commission has declined an effort by Apple Inc 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.