WASHINGTON, D.C. – 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 finalize its roll back of proxy advisory firm regulations and propose changes to the rules governing shareholder proposal exceptions.“The SEC’s votes today will significantly weaken investor protections and corporate governance, while turning a blind eye to conflicts of interests. By amending one previously finalized rulemaking before they were allowed to take effect and undermining the spirit of another, the SEC is pursuing a politically motivated agenda that endangers the competitiveness of our public capital markets. The Proxy Advisor Rule finalized in 2020 is rooted in deliberations that spanned a decade and multiple administrations and led to a regulation that created a level playing field while ensuring that investors would have access to high quality informati
