Proxy advisory firms are likely to be a top priority for the Securities and Exchange Commission’s point man on revamping corporate America’s shareholder voting system.
SEC Commissioner Elad Roisman’s background at the commission and in Congress suggests he may heed corporate calls to add oversight for the advisers, whose voting recommendations to institutional investors play an increasingly important role in the proxy process.
The Republican was a protégé of former SEC commissioner Daniel Gallagher, a regular critic of proxy advisers, before becoming a commissioner himself in September. Roisman was also involved in proxy issues as chief counsel to Republicans on ...