Sec Backs Labor On Corporate Board Votes ; Business Groups See Move As Burdensome, Favoring Special Interests
The Washington Times › August 26, 2010
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Summary
The Securities and Exchange Commission on Wednesday handed labor and social-activist groups a big victory by approving rules making it easier for them to put allies on corporate boards throughout the country.
The measure was approved on a 3-2 vote by a divided commission, with Republican members warning that the change may not pass muster in the courts. It is the first major regulation from last month's landmark financial-reform law to win approval.See the full content of this document
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Sec Backs Labor On Corporate Board Votes ; Business Groups See Move As Burdensome, Favoring Special Interests
Business groups insisted that the measure will damage corporate decision-making by bringing fights over politics and radical social agendas into the boardroom. But shareholder groups said it merely gives th...
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