Bloomberg Law
March 26, 2021, 7:07 PMUpdated: March 26, 2021, 8:57 PM

Democrats Propose Repeal of SEC Rules Curbing Shareholder Votes (1)

Andrew Ramonas
Andrew Ramonas
Corporate Disclosure Reporter

Democrats introduced legislation to reverse Trump-era SEC regulations that limited small stockholders’ ability to offer proposals on environmental, social, and governance issues, such as executive pay or climate change risks.

Senate Banking Committee Chairman Sherrod Brown’s Congressional Review Act resolution, unveiled Thursday, seeks to repeal proxy rules that the Securities and Exchange Commission completed in September under former Chairman Jay Clayton. The rules raised the criteria—such as the value of stock holdings—that shareholders must meet in order to submit or resubmit proposals that investors vote on at companies’ annual meetings.

“By raising eligibility and resubmission thresholds for shareholder proposals, ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.