The U.S. Securities and Exchange Commission is preparing to remove rules that govern when and how shareholders at listed companies can submit proxy proposals, according to a Bloomberg report cited by BlockBeats on Aug. 31. A newly released notice from the White House Office of Management and Budget shows the SEC sent the proposal to OMB for review last week, and the matter remains under that review process.
The move marks the latest step by SEC Chair Paul Atkins to reshape the relationship between public-company shareholders and corporate management. At issue is the framework that sets the procedures for shareholder proxy proposals at listed firms. No final decision has been announced, and the proposal is still in the OMB review stage.
On Aug. 31, BlockBeats, citing Bloomberg, reported that the U.S. Securities and Exchange Commission is planning to eliminate rules that govern when and how shareholders of listed companies may submit proxy proposals.
A new notice from the White House Office of Management and Budget, or OMB, shows the SEC sent the proposal to the OMB for review last week. Under a notice released Monday, the proposal is still under OMB review.
Bloomberg said the move is the latest step by SEC Chair Paul Atkins to change the balance between public-company shareholders and corporate management. The proposal targets the rule framework for shareholder proxy submissions at listed companies.
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