The National Association of Manufacturers is urging lawmakers to help preserve 2020 proxy advisory firm restrictions and investigate the SEC, as the now Democratic-led agency moves away from the Trump administration’s limits.
Congress should clarify that the Securities and Exchange Commission has the authority to regulate firms that advise shareholders on voting at companies’ annual meetings, Charles Crain, vice president for domestic policy at the National Association of Manufacturers, said in written testimony prepared for a House hearing Tuesday. The agency showed it had the power to do so when it issued the rules in 2020, Crain said.
The rules ...
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