The Securities and Exchange Commission asked the public to comment on changes to the voting system, including whether companies need more information about the identity of their shareholders.
There are more than 13,000 meetings a year where shareholders can vote in person, via the Internet or by phone, or by mailing in a proxy form.
The SEC issued a discussion paper to examine the accuracy and transparency of the voting process, shareholder participation and the relationship between voting power and economic interest.
The agency is exploring whether rules are needed for proxy advisory firms and how to get more shareholders to participate in the governance of their companies.
Schapiro has said she wants to give shareholders more say in how companies are governed. The SEC has already adopted rules that would bar broker-dealers from voting for corporate directors on behalf of their clients unless told to do so.
Schapiro has also said she soon wants to adopt rules giving shareholders "proxy access" or an easier and cheaper way to nominate corporate board directors.
"Proxy access" has emerged as a priority for activist investors, who want to have some influence on the composition of the board.
The SEC's discussion paper, also known as a concept release, will be open for a 90-day comment period. A concept release is sometimes the first step in the rule-making process, but does not always lead to new rules.
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