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CEOs Nearer to Win on Investor Vote Rules as SEC Proposes Change

Nov. 5, 2019, 5:18 PM

U.S. business titans are a step closer to winning a long fight to overhaul corporate voting rules that they say subject them to unfair shareholder campaigns.

TheSecurities and Exchange Commission on Tuesday proposed changes that would rein in proxy advisory firms and make it easier for companies to block submissions from newer stockholders who don’t own many shares. Several investor advocates, pension fund managers and hedge funds have already signaled they’re concerned that changes the SEC is seeking comment on will weaken shareholder protections.

“It’s time to move from debate in the abstract to constructive engagement on actual proposals,” ...