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Business Groups Push to Neutralize Proxy Advisors

November 16, 2018, Agenda

Reid Hooper is quoted in Agenda regarding the Corporate Governance Fairness Act, a bill that would require proxy advisory firms to register under the Investment Advisers Act of 1940, would give the SEC examination authority over the firms, and would provide a basis for future rulemaking. Mr. Hooper says the proposed bill would be aimed at “improving transparency and addressing conflicts of interest while adopting additional investor protections as necessary.” He adds, “Of all the issues discussed at the roundtable, [proxy firm regulation] could be the first, and potentially only, area where we see actual change by formal rulemaking, especially in the near-term.”

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