The SEC’s recent 3-2 vote to undo key provisions of a Trump-era rule governing proxy advisory firms has fanned the flames of controversy even though the stated goal was to bolster the independence and timeliness of these providers’ offerings. In fact, a major proxy-advice vendor, Institutional Shareholder Services (ISS), wanted the SEC to rescind the… Read More >>
RBC Capital Markets Penalized for False Proxy Allegations
The SEC reports that investment bank RBC Capital Markets, part of the Royal Bank of Canada, will pay a $2.5 million settlement for “causing materially false and misleading disclosures about its valuation analysis in a proxy statement for Rural/Metro Corporation’s sale in 2011 to a private equity firm.” That firm was Warburg Pincus. Rural/Metro, a… Read More >>
