Mercatus on Policy published a policy brief, by American Enterprise Institute scholar James K. Glassman and Mercatus Center scholar Hester Peirce , that outlines the regulations that give power to proxy advisory firms, discusses the nature and adverse consequences of that power, and offers suggestions for reform. The policy brief discusses the two major firms that dominate the proxy advisory industry and concludes that the firms' power derives from growth in the proportion of shares owned by institutions, the growing number of proxy votes, and the regulatory push toward reliance on outside
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Academics provided the first large-scale study that documents the economy-wide extent of misconduct among financial advisers and financial advisory firms.
An investment adviser settled charges with the SEC for breach of fiduciary duty after failing to properly evaluate whether leveraged exchange traded funds were in the best interests of its clients.
An investment adviser settled SEC charges for failing to supervise its screening process for ESG investments.
An investment adviser settled SEC charges for failing to timely pay back certain expenses through management fee offsets as well as related failures to disclose its practices to investors.