Analysis

Battle Over SEC's Proxy Regs May Not Be Finished

Law360 (July 28, 2020, 8:27 PM EDT) -- The U.S. Securities and Exchange Commission's new rules applying oversight of proxy advisory firms contain more wiggle room than the agency's original proposal, but that may not be enough to persuade critics of the rules or avert litigation.

The SEC voted 3-1 last week to increase scrutiny of proxy firms, which provide voting advice to institutional investors on topics ranging from executive pay and merger proposals to a company's climate and diversity policies. The new rules require proxy firms to comply with heightened conflict-of-interest disclosure requirements and provide a process for companies to respond to advice, among other things. 

The rules seek to...

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