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SEC May Curb Review of Contested Shareholder Proposals (1)

July 16, 2019, 4:36 PMUpdated: July 16, 2019, 9:07 PM

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...

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