Wall Street

Top U.S. corporate lobby sues Wall Street regulator over proxy rules

Published by
Reuters UK

By Katanga Johnson WASHINGTON (Reuters) – The top U.S. corporate lobby group filed a lawsuit on Thursday against Wall Street’s regulator over the agency’s recent vote to rescind rules that critics said impeded the independence of firms that advise investors on how to vote in corporate elections. The move by the U.S. Chamber of Commerce, in addition to the Washington, D.C.-based Business Roundtable and the Tennessee Chamber of Commerce & Industry, claims the Securities and Exchange Commission (SEC) failed to “follow proper procedures or provide adequate justification for its decision to roll ba…

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