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The regulator has revamped a 2020 rule governing proxy advisers but has not put the matter to rest.
The SEC’s recent 3-2 vote to undo key provisions of a Trump-era rule governing proxy advisory firms has fanned the flames of controversy even though the stated goal was to bolster the independence and timeliness of these providers’ offerings. In fact, a major proxy-advice vendor, Institutional Shareholder Services (ISS), wanted the SEC to rescind the...
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