Corporations say advisory firms—which recommend how shareholders should vote on corporate-governance issues—have too much sway. They want regulators to intervene.
WASHINGTON—Companies want the firms that advise shareholders on proxy proposals to face government oversight of their activities, a wish securities regulators are expected to act on as early as this spring.
The Securities and Exchange Commission is expected to propose the first U.S. rules on proxy-advice companies following an organized campaign by public companies that think proxy-advisory firms have too much sway over shareholder proposals.
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