Today, Congressman Bill Huizenga (R-MI), Ranking Member of the Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets, released the following statement regarding the Securities and Exchange Commission’s (SEC) misguided decision regarding proxy advisors.
“Yesterday, the Gensler SEC took another unfortunate step to repeal important market protections relating to the proxy advisor situation,” said Congressman Bill Huizenga. “It is abundantly clear that Chairman Gensler is set on using every tool at the SEC’s disposal to push the Democrats’ far left agenda. American businesses and their shareholders should run their companies not Biden appointed bureaucrats.”
“As SEC Commissioner Roisman noted in his dissent, by simply removing current language, the Democrat Commissioners have decided to replace thoughtful recently adopted rules with literally nothing. This misguided decision isn’t regulatory reform; it is an end-run to give liberal activists more control over publicly traded companies. The focus of the proxy advisory firms should be to maximize shareholder value and returns for shareholders, not to align with activists to push political agendas.”
Original source can be found here.
