State of Play on SEC Activist Rules: Negotiations Inside Agency are Heating Up

Also, BlackRock finds a friend in Texas on ESG policies; SEC's Republican commissioners dissent on McDonald's enforcement case

Debate on a major SEC rule proposal that impacts activist investors is heating up on the agency’s 10th floor, as staff and commissioners begin to discuss the policy changes. And while the internal negotiations are very much in flux, several people involved say that hedge funds may dodge what they’ve long seen as one of the most onerous aspects of the pl…