Federal corporate governance prioritizes investor protection over shareholder primacy.
The article argues that recent federal corporate governance regulations focus more on protecting investors rather than prioritizing shareholders. It distinguishes between shareholders and investors, showing that regulations aim to ensure all investors have accurate information for participating in securities markets. The regulations do not give unique governance rights to shareholders alone, despite their increased influence in corporate affairs. Shareholder power growth is not directly linked to federal governance regulations, which prioritize all investors' interests over shareholders exclusively.