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SEC Proxy Point Man Roisman Ponders Proposal Changes

March 10, 2020, 6:53 PM

An SEC plan to give companies a longer period to respond to proxy advisory firms’ recommendations may change before the commission considers adopting it, Republican Commissioner Elad Roisman said.

The proposal, which the Securities and Exchange Commission released in November, would impose several more requirements on proxy firms, including Institutional Shareholder Services Inc. and Glass, Lewis & Co. The U.S. Chamber of Commerce and other business interests have said proxy firms have too much power over companies’ corporate governance.

Roisman, who is overseeing the agency’s proxy rulemaking work, said Tuesday he is mulling alternatives to some of the plan ...