In the latest episode of Activist Investing Today, Vinson & Elkins LLP partner Jon Solorzano unpacked the implications of a recent White House executive order targeting shareholder proposals and proxy advisers.

Solorzano discussed how the SEC’s expected move to revise shareholder proposal rules could mirror Texas’ tough approach for filing resolutions, potentially chilling ESG activism. He warned that removing shareholder proposal rights could lead to unintended consequences, such as an increase in investor vote-no campaigns targeting incumbent directors.

The conversation also addressed efforts to treat proxy adviser-influenced robo-voting as a coordinated group action under 13D rules, with Solorzano skeptical of the feasibility and legality of such an approach.

Listen to the podcast with Jon Solorzano below:

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