U.S. Chamber Commends the SEC for Reforming Proxy Advisory Firms

Wednesday, July 22, 2020 - 11:00am

WASHINGTON, D.C. – Tom Quaadman, executive vice president, Center for Capital Markets Competitiveness, U.S. Chamber of Commerce issued the following statement today commending the U.S. Securities and Exchange Commission (SEC) for releasing their final rule reforming proxy advisory firms: 

“Today the SEC has acted to protect investors, promote transparency, end conflicts of interest and boost U.S. competitiveness through oversight of proxy advisory firms. These improvements will reorient shareholder proposals and director elections to ensure the long-term success of businesses and provide much needed returns for investors. We commend the leadership of Chairman Clayton and Commissioner Roisman in achieving these goals, and are hopeful this will reverse the 25 year decline in the number of U.S. public companies.”