US audit regulator scraps investor advocate role as Trump-era revamp accelerates

The Public Company Accounting Oversight Board has eliminated the investor advocate role established under the Biden administration to better represent shareholders' interests. This move accelerates a revamp that began during the Trump era, highlighting a shift in regulatory priorities. The decision underscores a significant change in how corporate governance and shareholder rights are managed, reflecting broader tensions between regulatory reforms and corporate interests. For investors, this could mean a less direct voice in the oversight of public companies.