SEC's Cox pressing for vote on shareholder rights

CAMBRIDGE, Mass., Oct 24 (Reuters) - America's top financial regulator on Wednesday reemphasized his plan to have the Securities and Exchange Commission vote on how shareholders may be able to determine who serves on corporate boards.

"We intend to complete work on a rule in time for the proxy season," SEC Chairman Christopher Cox said after delivering a speech at Harvard University.

The SEC is currently compiling comments that will help commissioners decide between two competing proposals about how shareholders would be able to propose candidates for corporate boards. The matter has generated much discussion at a time some groups fear it might give labor unions, who often invest in U.S. companies, more say in how corporations are run.

Cox also said that the SEC can continue its work even as one seat is now empty. Roel Campos, a former commissioner who favored opening up the proxy voting process, recently resigned.

"The need to eliminate ambiguity in our rule exists independent of that," Cox said.

Cox said there are several more meetings where commissioners would be able to vote on the matter but also noted that it has not been put on the calendar for a vote.

"I can't predict what the Commission will do," he said.