Legislation introduced to rein in proxy advisors
Legislation introduced by U.S. Rep. Bryan Steil (R-WI) and Ann Wagner (R-MO) would impose new rules on the proxy advisor duopoly. The lawmakers said their legislation Protecting Americans’ Retirement Savings from Politics Act, would correct issues like a lack of transparency and conflicts of interest which have, they said, tarnished proxy advice and corrupted corporate governance. “Too often, proxy advisors have encouraged votes that run counter to the economic interests of retirees a...
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