The National Association of Manufacturers plans to sue the SEC after it lifted Trump-era restrictions on proxy advisory firms Institutional Shareholder Services Inc. and Glass, Lewis & Co.
The trade group announced its plans shortly after the Securities and Exchange Commission on Wednesday completed regulations that make it easier for proxy firms to make voting recommendations to institutional investors on company ballot matters, including environmental, social, and governance issues.
The new rules throw out 2020 requirements that proxy advisory firms provide their voting guidance to companies and investors at the same time, and give shareholders a means to see what ...
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