The Council of Institutional Investors sent letters to congressional leaders opposing separate legislation that would tighten regulation of proxy-voting advisory firms and require the Securities and Exchange Commission to assess costs and benefits of its proposed regulation.

The equity market structure with more than 70 venues for trading and 35% of trades done in dark pools represents a major regulatory challenge for the Securities and Exchange Commission, Mary Schapiro, former SEC chairwoman, said Tuesday before attendees at a conference of the Council of Institutional Investors in Washington.

Corporations should adopt a universal proxy ballot enabling shareholders to vote for both management and activist nominees for boards of directors on the same voting card, Anne Simpson, senior portfolio manager and director of global governance at CalPERS, said Thursday as a panelist for an SEC round table on the issue.

Florida State Board of Administration, Tallahassee, would receive authorization to raise its alternative investments allocation to 20% from the current 10% under two bills pending in Florida legislative committees.