The Securities and Exchange Commission is slated to make a decision on whether it will update a roughly 30-year old set of proxy and investor shareholder rules at a meeting next Wednesday. A revision that many institutional investors are banking on.

Last month, the Commission unanimously approved a measure to elicit responses from the investing public to uncover its opinion on the topic. The last time the SEC did such a review was back in 1976, the federal agency said.

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