Tom Quaadman, executive vice president of the U.S. Chamber's Center for Capital Markets Competitiveness issued the following statement today regarding the Securities and Exchange Commission’s proposal to roll back restrictions on proxy advisory firms.
“The rules finalized by the SEC last year created a level playing field and ensured that investors would have access to high quality information free of bias. If the SEC decides to roll back these rules, it will signal that it is not serious about rooting out and eliminating misinformation and conflicts of interest in the proxy process and will instead place special interests at the head of the line, harming investors and markets. We will engage with the SEC to stop these misguided proposals from moving forward.”
