US court overturns proxy-access rule

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US - Institutional investors are bemoaning a US Court of Appeals decision to overturn the Security and Exchange Commission's proxy-access rule, which would have allowed investors to nominate their own candidates for company boards.

The SEC approved the rule in August, but it was quickly challenged in court by the US Chamber of Commerce and the Business Roundtable who argued the SEC did not take into account the financial impl...

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