Last week, the SEC adopted rule amendments to the proxy voting advice rules – in a 3-2 vote – reversing course on most of the rule changes adopted a scant two years ago involving how proxy advisors operate. The SEC refers to proxy advisors as “proxy voting advice businesses” – or “PVABs” – but I’m sticking to “proxy advisors.” Here’s the 104-page adopting release.

Continue Reading SEC Changes the Proxy Voting Advice Rules (Again)

A few weeks ago, SEC Commissioner Crenshaw delivered a speech on SPACs that’s worth reading. Agree or disagree, it’s an excellent summary of the policy considerations behind the SEC’s recent rule proposal regarding SPAC IPOs – and a helpful reminder of the challenges to keep in mind for those navigating a SPAC transaction. Here’s the