Washington – Business Roundtable CEO Joshua Bolten released the following statement after the House approved H.R. 4790:
“Business Roundtable commends the House for its ongoing work to address critical issues related to shareholder proposals and proxy advisory firms. Our members have long been concerned about the lack of accountability and transparency of proxy advisors and their significant influence over shareholder voting. The SEC’s actions under the current Administration have only exacerbated these problems, impacting investors and public companies alike.
“The House’s focus on these issues is a vital step toward improving oversight and accountability in the proxy process. We stand ready to continue working with lawmakers to tackle the challenges posed by proxy advisory firms and restore essential safeguards for shareholders.”