The White House is considering measures to restrict proxy advisory firms and exploring limits on how index-fund managers are allowed to vote, The Wall Street Journal’s Jack Pitcher and Emily Glazer report. Trump administration officials are discussing at least one executive order that would restrict proxy-advisory firms such as Institutional Shareholder Services and Glass Lewis, people familiar with the matter say, adding that this could include a broad ban on shareholder recommendations or an order blocking recommendations on companies that have engaged proxy advisers for consulting work. Officials also are exploring limits on how index-fund managers are allowed to vote, seeking to curtail the power of BlackRock (BLK), State Street (STT), and Vanguard, which together own on behalf of clients roughly 30% or more of many of the biggest U.S. publicly traded companies. The proposed measures follow criticism from CEOs including Tesla (TSLA) CEO Elon Musk and JPMorgan (JPM) CEO Jamie Dimon regarding proxy-adviser influence.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BLK:
- Crypto Currents: Rumble soars on AI deal, Coinbase launches token platform
- 3 ETFs AI Analyst Calls Must-Buys Now, 11/04/2025
- Tesla Loses Another Major Shareholder Vote on Musk’s $1 Trillion Pay Package
- Crypto Currents: Bitcoin miners soar on Microsoft and Amazon AI deals
- XRP Price Keeps Falling as Ripple’s Swell Conference Hype Runs Dry