Survey Says Retail Investors Want More Proxy Firm Scrutiny
Law360 (January 9, 2020, 7:51 PM EST) -- More than 80% of retail investors support increased oversight of proxy advisory firms, according to a new survey by research firm Spectrem Group, adding fuel to a debate as a divided U.S. Securities and Exchange Commission considers more regulation for such firms.
According to Spectrem's data scheduled for release Friday, 81% of investors support more scrutiny of proxy firms, which provide voting advice to large investors of public companies, at the conclusion of a nine-day online survey held in November. The group surveyed more than 5,000 investors who hold at least $10,000 in assets through various accounts containing stocks, bonds, mutual funds and...
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