The White House is contemplating an executive order aimed at reducing the influence of proxy-advisory firms and major index-fund managers in U.S. corporate governance. The proposal seeks to limit firms such as ISS and Glass Lewis from advising companies they consult and may restrict the distribution of voting recommendations. Additionally, the order could require index funds like BlackRock, Vanguard, and State Street to align their voting with client preferences, addressing concerns over centralized decision-making. These firms currently control about 30% of shares in many large U.S. companies. The initiative comes amid criticism from business leaders who argue that these entities wield excessive power. The White House has yet to make a final decision on the matter.