More on the Chamber's efforts to combat proxy advisory firms
WASHINGTON, D.C. – Tom Quaadman, executive vice president of the U.S. Chamber's Center for Capital Markets Competitiveness issued the following statement today announcing the U.S. Chamber's support of Representative Bryan Steil's (WI-01) Putting Investors First Act.
"For years, a duopoly of proxy advisory firms have used their outsized influence in the shareholder proposal system to collude with activists and force their preferred policy agenda on public companies – often without regard for the negative impact to the economy and everyday investors. Both firms operate as a black box, without transparency or accountability, including rampant conflicts of interest. The Putting Investors First Act will stop the SEC rollback of common sense reforms and protect our economy and Main Street investors."