SEC Proxy Firm Rule Reversal Gets Mixed Sixth Circuit Reception (1)

The SEC’s repeal of Trump-era curbs on firms guiding shareholder voting ran into skepticism—along with some possible support—at the Sixth Circuit with another conservative-leaning federal appeals court having qualms.

Judge John Bush of the US Court of Appeals for the Sixth Circuit on Thursday was skeptical of the Securities and Exchange Commission’s decision to issue the 2022 rollback after a public comment period that business groups said was too short and violated an agency procedure law. But Sixth Circuit Judge Julia Gibbons questioned claims the SEC moved too fast. Bush and Gibbons were on a three-judge panel that ...