SEC Proposes To Rescind Recently Adopted Proxy Voting Advice Rules

The US Securities and Exchange Commission (the “SEC”) proposed changes to the proxy solicitation rules on November 17, 2021. This Legal Update discusses the proposed changes that would rescind certain new rules adopted by the SEC in July 2020 which apply to proxy voting advice produced and disseminated by proxy advisory firms, otherwise known as proxy voting advisory businesses (“PVABs”).