SECURITIES

SEC Puts Proxy Rule Changes on Ice: The Securities and Exchange Commission is delaying final action on proxy rule changes that would make it easier for dissident shareholders to challenge management. It said it received hundreds of letters critical of the changes. Shareholder rights advocates have complained that current rules make it difficult for dissidents to put their own proposals before fellow shareholders. But business groups contend that, instead of helping small investors, the rule changes would favor powerful institutional investors, which could use their share holdings to demand concessions from management.