proxy representation
[/ˈprɑːksi ˌrɛprɪˈzɛnˈteɪʃən/]
nounpl: proxy representations
representação por procuração
1. The act of being represented or acting on behalf of another person or entity through a legal document (proxy) that grants authority to make decisions or vote
The shareholder used proxy representation to vote in the company's annual meeting without attending in person.
O acionista usou representação por procuração para votar na assembleia anual da empresa sem estar presente pessoalmente.
2. In legislative or political contexts, the practice of one representative voting or acting on behalf of another representative who is absent
Proxy representation is allowed in some parliamentary systems to ensure quorum and continuity of voting.
A representação por procuração é permitida em alguns sistemas parlamentares para garantir quórum e continuidade nas votações.
3. A system where someone is authorized by another to exercise their legal rights or duties
Proxy representation is common in corporate governance for absentee shareholders.
A representação por procuração é comum na governança corporativa para acionistas ausentes.
Proxy representation is a significant practice in both American and Brazilian corporate cultures, particularly in publicly-traded companies where shareholders may not be able to attend annual meetings. In Brazil, this is regulated by the Comissão de Valores Mobiliários (CVM) and is essential for shareholder participation in corporate governance. In the USA, proxy representation is heavily regulated by the SEC and plays a crucial role in corporate democracy.
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