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Executive Order Targets Proxy Advisors

By Randi Morrison posted 14 days ago

  

As widely reported, the President issued this Executive Order last week directing the SEC, FTC, and DOL to take and consider actions to regulate and dismantle the influence of proxy advisory firms in the corporate governance arena, particularly as they relate to DEI and ESG matters, and including (as respects the SEC) potentially revising or rescinding any shareholder proposal rules, regulations, or guidance inconsistent with those objectives.  

See the Fact Sheet; ISS’s responsive statement; these memos from Cooley, Gibson Dunn, Mayer Brown, Morrison Foerster, Paul Weiss, Ropes & Gray, Skadden, Sullivan & Cromwell, and Vinson & Elkins; and additional resources on our Proxy Advisors page.

                      This post first appeared in the weekly Society Alert!

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