New York State Comptroller Thomas DiNapoli sent a letter to J.P.Morgan Chase & Co. (JPM) - Get JPMorgan Chase & Co. Report CEO Jamie Dimon urging him to use his position as the head of the Business Roundtable to halt a proposal that will raise the minimum required amount of shares to introduce a shareholder resolution above $2,000 worth of company stock held for one year, Reuters reported Wednesday.
The changes would "ultimately jeopardize corporate transparency and accountability," wrote DiNapoli, who oversees a $192 billion state worker retirement fund.
The Business Roundtable praised a bill introduced by Congress that would raise the threshold to 1% of a company's stock held for three years.
Watch More with TheStreet:
- Carly Fiorina's Advice to Young Women: Don't Let Other People Define You
- From Catalogs to Catastrophe: A Sears Timeline
- Chipotle May Not Recover Until 2019 After Latest Health Scare
- T-Mobile's John Legere Is Inarguably One of the More Colorful CEOs on Twitter
- Shark Tank Star Kevin O'Leary Just Revealed This One Way Entrepreneurs Are Getting Savvier