SEC May Curb Review of Contested Shareholder Proposals (1)

The Securities and Exchange Commission may curb its role refereeing shareholders’ proposals that press public companies to act on issues like climate change or corporate governance, according to a top official.

Companies that receive shareholder proposals and want to prevent them from going to a vote can ask the SEC to weigh in, a process that was delayed this year by the federal government’s longest shutdown. The commission currently reviews all such proposals, but it’s considering how to “still actively monitor” them without issuing a response every time, Bill Hinman, who directs the SEC’s Division of Corporation Finance, said in ...