SEC chairman Jay Clayton has faced an extraordinary grilling over the fake investor letters he cited in ‘support’ of the regulator’s proxy advisor rule changes – with a prominent US senator telling him he was “duped”. Clayton was finally forced to answer questions about his part in the fake letter scandal during his testimony before […]
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SEC falls foul of proxy astroturf Did the SEC cite fake letters to support its proxy clampdown? The SEC’s attempts to impose tough new regulations on proxy advisers have taken a sinister turn following revelations its chairman has been citing fake investor letters in ‘support’ of its proposed changes. The Security and Exchange Commission’s (SEC) […]
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