Trump orders SEC to review proxy advisory firm rules

Gold Finance reports that U.S. President Trump issued an executive order attempting to limit the influence of proxy advisory firms, as part of his efforts to weaken third-party organizations' ability to influence corporate decision-making. The executive order released on Thursday instructs the Securities and Exchange Commission (SEC) chairman to review rules and regulations related to proxy advisory firms and consider revising or rescinding those that are inconsistent with the objectives of this order, including rules, regulations, guidance documents, notices, and memos, especially in areas related to “Diversity, Equity, and Inclusion (DEI)” and “Environmental, Social, and Governance (ESG)” policies.