Lawmakers Seek to Curb Voting Power of BlackRock, Vanguard and Other Big Asset Managers

A group of Republican senators is seeking to curtail the power of major asset managers like BlackRock Inc. and Vanguard Group for public companies.

In legislation to be enacted Wednesday, Senator Dan Sullivan (R., Alaska) calls for voting options to be made available to individual investors in passive funds when money managers own owns more than 1% of a company’s voting stock.

https://www.wsj.com/articles/lawmakers-seek-to-curb-voting-power-of-blackrock-vanguard-and-other-big-asset-managers-11652875481?mod=rss_markets_main Lawmakers Seek to Curb Voting Power of BlackRock, Vanguard and Other Big Asset Managers

Edmund DeMarche

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