Bloomberg Law
June 1, 2021, 7:11 PMUpdated: June 1, 2021, 10:07 PM

SEC Won’t Enforce Trump-era Restrictions on ISS, Glass Lewis (2)

Andrew Ramonas
Andrew Ramonas
Corporate Disclosure Reporter

The SEC said it won’t bring enforcement actions against proxy advisory firms that skirt Trump-era requirements for issuing voting recommendations to institutional shareholders.

The enforcement freeze announced Tuesday comes less than a year after the Securities and Exchange Commission issued rules for proxy advisers to adopt policies and procedures aimed at ensuring investors are made aware of companies’ opposing views and other issues.

The SEC is considering whether to reopen the 2020 rules and 2019 guidance seen as making it harder for activist investors to push for corporate changes in areas such as climate change and diversity.

SEC Chairman Gary ...