SEC's Shareholder Voting Proposals Endure Heavy Criticism
Law360 (February 7, 2020, 10:12 PM EST) -- Following a blizzard of public comments on its plans to regulate proxy advisory firms and revise shareholder voting rules, the U.S. Securities and Exchange Commission must decide how it wants to proceed on two proposals that critics say would muzzle shareholders.
A divided SEC in November issued two rule proposals regarding shareholder voting — one that would impose additional regulations on proxy advisory firms that sell research and voting advice to investors, and another that revises ownership and submission thresholds for shareholder proposals. The public comment period expired Feb. 3 for both proposals, which have received more than 1,500 combined letters, according to the...
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