SEC Court Victory on Proxy Firm Rules Facing Industry Appeal

The National Association of Manufacturers has appealed a federal judge’s decision to uphold Securities and Exchange Commission proxy advice rules easing Trump-era restrictions on firms that counsel shareholders voting at companies’ annual meetings.

The trade group on Tuesday notified Judge David Counts of the US District Court for the Western District of Texas that it’s contesting his ruling, which he made in favor of the SEC on Dec. 4. The US Court of Appeals for the Fifth Circuit will handle the appeal.

The National Association of Manufacturers “will continue our work to ensure that these commonsense and much-needed protections for ...