U.S. SEC proposes rules that could limit shareholder voices

www.reuters.com/article/us-usa-sec-proxyadvisers/u-s-sec-proposes-rules-that-could-limit-shareholder-voices-idUSKBN1XF1YN

WASHINGTON (Reuters) – Wall Street’s top regulator on Tuesday proposed a pair of long-awaited rules that would set new limits on shareholders’ ability to call for corporate changes on thorny issues like climate change disclosures and executive compensation.

In one of the biggest wins for the corporate lobby under President Donald Trump, the U.S. Securities and Exchange Commission voted 3-2 along partisan lines to raise the re-submission thresholds for motions that shareholders file on company ballots and to put new requirements on firms guiding investors how to vote in corporate elections.

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