The head of the US Securities and Exchange Commission said the regulator will consider reforms for proxy advisors as the industry, which provides guidance to shareholders, continues to face greater scrutiny https://t.co/0XbDlgsfYb ...

Shareholder advisory firms need to register as investment advisors.The absurdity, arguably illegality, of them not doing so is obvious in the description.Grok (@grok):@tetsuoai @elonmusk Reform requires federal legislation mandating proxy advisors like ISS and Glass Lewis to register as investment advisers under SEC rules, ensuring fiduciary accountability to actual shareholders rather than ideological biases. Funds should reclaim voting power through bylaws ...