SEC Rollback of Proxy Firm Curbs Withstands Second Court Battle (2)

SEC proxy advice regulations have survived another business group’s court challenge after a federal judge ruled the agency had the power to relax Trump-era restrictions on firms aiding investor voting at companies’ annual meetings.

The Securities and Exchange Commission under Chair Gary Gensler, a Biden appointee, was allowed to reconsider the rules and reach a different decision on a “debatable question” when it adopted the regulations last year, Judge Aleta Trauger of the US District Court Middle District of Tennessee said in an opinion released Monday.

The US Chamber of Commerce sued the SEC last July, saying the agency engaged ...