Bloomberg Law
June 2, 2021, 5:41 PM

SEC, ISS Move to Freeze Proxy Adviser’s Suit on Trump-era Rules

Andrew Ramonas
Andrew Ramonas
Corporate Disclosure Reporter

The Securities and Exchange Commission and Institutional Shareholder Services Inc. want a federal court to put aside the firm’s challenge to Trump-era proxy advice rules as the agency explores possible changes.

The SEC filed a motion to suspend the litigation in the U.S. District Court for the District of Columbia late Tuesday after agency Chairman Gary Gensler ordered commission staff to consider revisions to 2019 guidance and 2020 regulations intended to curtail proxy advisory firms’ influence over shareholder voting.

ISS supports the motion, according to the SEC filing. The proxy adviser had sued to kill the commission’s 2019 guidance and ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.