House Judiciary Subcommittee Hearing on ‘The Proxy Advisor Duopoly’s Anticompetitive Conduct’

House Judiciary Subcommittee Hearing on ‘The Proxy Advisor Duopoly’s Anticompetitive Conduct’

The House Judiciary Subcommittee on Administrative State, Regulatory Reform, and Antitrust holds a hearing on “The Proxy Advisor Duopoly’s Anticompetitive Conduct” at 10 a.m. ET on June 25. ...

Proposed Legislation to Restrict Proxy Advisory Firms

Congressman Scott Fitzgerald (WI-05) introduced the Stopping Proxy Advisor Racketeering Act, which restores transparency and accountability in corporate governance and protects shareholders from biased advice. Specifically, it prohibits proxy advisory firms from issuing voting recommendations when any conflict could reasonably be expected to affect the objectivity or reliability of proxy advice, including being a member of a group that supports …