CRA Resolution Will Reverse Rushed SEC Rule That Stifled Shareholder Democracy

WASHINGTON, D.C. – U.S. Sen. Sherrod Brown (D-Ohio) today introduced a Congressional Review Act resolution to overturn a U.S. Securities and Exchange Commission (SEC) rule that raised the ownership and resubmission thresholds for shareholder resolutions. Rachel Curley, democracy advocate for Public Citizen, released the following statement:

“Under Chairman Clayton, the SEC caved to the wishes of big business interests and rushed a rule out the door at the end of Trump’s term that stifled shareholder democracy. This rule must be overturned. Shareholder proposals allow investors to hold their corporations accountable for issues including political activity, human rights, workforce diversity and equity, environmental impacts, and more. It is imperative that this draconian attempt to shut down shareholder dissent be reversed.”