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Senate Banking leaders disagree on measures curbing stockholder influence

“Senate Banking Committee leaders disagreed Thursday on whether Congress should enact new laws governing corporate shareholder votes even as the Trump administration explores what actions it can take on its own” reports Alongside changes to the shareholder proposal process, organizations like the U.S. Chamber of Commerce are also seeking regulatory or legislative action to rein in the influence of so-called proxy advisory firms, which provide voting recommendations to shareholders.”Folks in this town want to stack the deck even further against Main Street, small-time investors,” Sen.Currently, investors with as little as $2,000 worth of a company’s stock can introduce proposals directing its board to take specific actions, though they seldom garner the majority needed to take effect.

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