New York State Comptroller Thomas DiNapoli sent a letter to J.P.Morgan Chase & Co. (JPM) - Get 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.
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