After several failed attempts, the Securities and Exchange Commission is again revisiting the contentious debate on shareholder proxy voting.

In a split 3-2 vote on May 20, the SEC approved a proposal for a series of rule amendments that could give large, individual shareholders or groups of shareholders more rights to nominate board directors, suggest amendments to a company's governing documents, or in the case of mutual funds, dictate which investments a fund may or may not invest in. The public has 60 days to comment.

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