SEC warns asset managers against collaborating on activist campaigns

The SEC has cautioned asset managers about the potential consequences of collaborating on activist campaigns, emphasizing that such actions could lead to stricter regulations. This follows a probe into the ousting of ExxonMobil board members, highlighting the regulator's concern over coordinated efforts that could undermine corporate governance. The warning underscores the importance of maintaining fair and transparent practices in the industry, ensuring that asset managers act independently to avoid regulatory backlash. For more details, check out the full article on Financial Times.