The U.S. Securities and Exchange Commission is seeking to eliminate rules governing when and how shareholders of public companies can submit proxy proposals, according to a Bloomberg report cited by ChainCatcher. A notice released Monday shows the SEC sent the proposal to the White House Office of Management and Budget, or OMB, for review last week. The filing is the latest step tied to SEC Chair Paul Atkins’ push to reshape the balance between public company shareholders and corporate management. Based on the information disclosed so far, the proposal focuses on the rule framework for shareholder proxy submissions at listed companies. The measure has not taken effect and remains under OMB review.
The U.S. Securities and Exchange Commission plans to remove rules that govern when and how shareholders of listed companies can submit proxy proposals, according to Bloomberg, as cited by ChainCatcher.
Information recently released by the White House Office of Management and Budget, or OMB, showed that the SEC sent the proposal to the office for review last week. A notice disclosing that step was published on Monday.
Bloomberg described the move as the latest action by SEC Chair Paul Atkins aimed at changing the relationship between public company shareholders and corporate management.
Based on the details currently available, the proposal would revise the rule structure covering shareholder proxy submissions at listed companies. It remains under OMB review.
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