Bloomberg Law
Feb. 26, 2020, 5:45 PM

ANALYSIS: Sparks Fly in Comments on SEC Proxy Advisor Proposals

Peter Rasmussen
Peter Rasmussen
Legal Analyst

The notice and comment process for SEC rulemaking typically generates turgid prose and repetitive argument. That is definitely not the case with regard to the comments on the SEC’s proxy advisor proposals.

Corporate governance expert Nell Minow stated that the rules as proposed would “undermine a crucial element of accountability to shareholders by severely hampering the access of investors, including individual investors whose assets are managed by intermediaries to the sole source of independent information.” She emphasized that the proposal “is wrong in every category.” Meanwhile, Tom Quaadman from the U.S. Chamber of Commerce said that the “disruptive behavior ...

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