Duffy Highlights Need for Proxy Advisory Reform Legislation

Statement

Congressman Sean Duffy (R-WI) and Congressman Dan Newhouse (R-WA) today released the following statement regarding the Securities and Exchange Commission's statement from the staff of the Division of Investment Management relating to Staff Proxy Advisory Letters:

"I have been working my heart out for proxy advisory reform legislation, and the SEC's announcement of the withdrawal of letters issued to Egan-Jones Proxy Services and Institutional Shareholder Services, Inc. shows why it is needed. I want to commend the SEC on its action and look forward to its upcoming roundtable to study the proxy advisory process. I hope the Senate takes not of the action taken by the SEC and is a willing partner for this legislation."

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