The Globe and Mail reports in its Wednesday edition that new White House order aiming to rein in proxy advisory firms marks a major step in a broader Republican effort to weaken the role of investors and put more power in the hands of chief executive officers. A Reuters dispatch to The Globe says President Donald Trump told the Securities and Exchange Commission and other agencies last week to increase oversight of proxy advisers ISS and Glass Lewis, which help mutual fund companies and institutional investors decide how to vote at corporate elections. Their clients hold significant positions in some of the biggest Fortune 500 companies in the world, making their advice influential. Mr. Trump's order said proxy firms often use their power "to advance and prioritize radical politically-motivated agendas," including supporting environmental and social issues at the expense of shareholder returns. Sarah Wilson, CEO of British proxy adviser Minerva Analytics, said, "Our clients aren't rabid socialists at the gates, they want good returns over time that are well risk-adjusted." Mr. Trump's order directs the SEC to consider "revising or rescinding all rules" related to shareholder proposals that increase accountability.