Proxy

Texas Proxy Advisors Win Initial Legal Battle as Judge Halts Controversial SB 2337 Enforcement

by

AUSTIN, Texas — A recent ruling has temporarily halted the enforcement of a Texas law that introduced new regulations for proxy advisors, specifically those recommending votes based on non-financial factors. This law, known as Senate Bill 2337, is designed to bring more transparency to proxy advisory firms’ recommendations. Last week, U.S. District Judge Alan Albright granted a preliminary injunction stopping the Texas Attorney General from enforcing the law against two major proxy advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis. The ruling allows the case to progress to trial, which is scheduled for February … Read more

Trump Advocates for Proxy Voting in Legislative Processes

by

In an intriguing shift in the political landscape, former President Donald Trump has recently voiced his support for proxy voting within Congress, a method that allows lawmakers to vote on legislation without being physically present in the chamber. This endorsement comes despite the practice being a point of contention among many of his fellow Republicans. Proxy voting was implemented in 2020 as a response to the COVID-19 pandemic, aimed at preventing the spread of the virus among members of Congress and staff. It enabled representatives to designate another member to vote on their behalf, ensuring … Read more