The White House is weighing options to curb the influence of proxy advisory firms and is examining restrictions on voting rights for index-fund managers. According to a report by The Wall Street Journal, Trump administration officials are deliberating on at least one executive order targeting firms like Institutional Shareholder Services and Glass Lewis. Potential actions could encompass a sweeping prohibition on their shareholder voting guidance or directives to prevent recommendations for companies that have hired these firms for consulting services.

In addition, officials are considering constraints on voting practices by index-fund managers, with the goal of diminishing the sway of major players such as BlackRock, State Street, and Vanguard. These firms collectively hold about 30% or more of shares in many of America’s largest publicly traded companies on behalf of their clients. The ideas stem from complaints by prominent executives, including Tesla CEO Elon Musk and JPMorgan CEO Jamie Dimon, about the outsized role of proxy advisers.

BlackRock, State Street, and Vanguard are notorious for pushing American companies to embrace woke policies. This is will be a huge and much needed hit against the ESG cartel.

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