A recent federal court ruling found that the U.S. Securities and Exchange Commission’s regulation defining “solicitors” to include proxy advisory firms exceeded statutory authority. What does this mean for the future of SEC rulemaking? Partner Jan Folena, co-chair of the firm’s securities and litigation enforcement practice; partners Sara Crovitz and Matthew DiClemente, co-chairs of the investment management practice; and counsel David Scott explore this and more in an article for Bloomberg Law.
Copyright 2024 Bloomberg Industry Group, Inc. (800-372-1033) Reproduced with permission. SEC's Proxy Advisory Firm Regulation Derailed by Court in Growing List of Legal Setbacks.