What is the role of the Proxy Holder and Trustee?
Individuals who serve as Voting Trustees or Proxy Holders must be US citizens, residing within the US and eligible for a personnel security clearance. They must be capable of assuming full responsibility for voting the stock and exercising management prerogatives relating to the company in a way that ensures that the foreign shareholder can be effectively insulated from the cleared company. The Proxy Holders or Trustees are required to be appointed to the company’s Board of Directors and they have the same fiduciary responsibilities as any other Board member.
