Pending U.S. securities rules that would limit shareholder proposals have divide...
BOSTON - Pending U.S. securities rules that would limit shareholder proposals have divided passive and active U.S. fund firms as some take a harder line on issues like climate change.
A comment period ends Monday on proposed changes from the U.S. Securities and Exchange Commission that investor activists say would weaken their ability to bring environmental or social issues to a shareholder vote. Climate-related proposals have set the agenda at various annual gatherings lately, notably at Exxon Mobil Inc.
But lately a group of firms known for actively managed funds has emerged in defense of smaller shareholders.
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