SEC Opens Door to Shareholder Proposals Targeting Mutual Funds
Also, SEC accounting chief raises caution flag about U.S. auditors taking on Chinese clients; top Sifma lobbyist leaves for Exxon
For what appears to be the first time, the SEC’s staff has refused to side with a mutual fund looking to quash a shareholder proposal. The little noticed move late last month, involving Nomura’s Japan Smaller Capitalization Fund, is likely to have ramifications for the industry broadly – and also for shareholders who want to push their funds to change t…
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