Rep. Frank Presses SEC To Postpone Proxy Vote

Law360, New York (October 17, 2007, 12:00 AM EDT) -- The chair of the House Committee on Financial Services has urged the U.S. Securities and Exchange Commission to hold off on voting to finalize a regulation on controversial proxy access measures because it may be shot down by Congress.

Rep. Barney Frank (D-Mass.) warned the SEC on Tuesday that it would be “a great mistake” for it to move forward on the issue of proxy access without filling two empty seats at the five-member commission with Democrats. Frank said that Congress could decide to halt the...
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