SEC, Companies to Face Off on Proxy Firm Rules in Sixth Circuit

The SEC’s reversal of Trump-era limits on firms guiding shareholder voting at annual meetings will face new judicial scrutiny after companies challenging the rollback gained traction in a federal appeals court.

The US Court of Appeals for the Sixth Circuit will hear oral arguments Oct. 26 over the 2022 Securities and Exchange Commission rule updates for Institutional Shareholder Services Inc., Glass, Lewis & Co. and other proxy advisory firms. The hearing comes after the US Court of Appeals for the Fifth Circuit raised doubts about the SEC’s turnabout in a related case in August, buoying corporate hopes that the ...