SEC Commissioner Troy Paredes cool to new proxy access rule

As i documented in the chapter on shareholder activism in my book Corporate Governance after the Financial Crisis, SEC Commissioner Troy paredes has become a leading voice of reason and caution in the ongoing battles over shareholder activism. BNA reports (sub reqd) that:

Securities and Exchange Commissioner Troy Paredes told a gathering of institutional investors April 2 that until the commission has reviewed the experience of proxy access through private ordering, he would be “hesitant” for the agency to tackle another federal access regulation.

Exactly right.