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SEC Crushes Shareholder Oversight, Reduces Corporate Transparency

New Rules Diminish Shareholder Protections

WASHINGTON, D.C. – The U.S. Securities and Exchange Commission (SEC) today finalized rules that would make it more difficult for investors to file shareholder resolutions on political spending, climate change, workers’ rights and other issues. Rachel Curley, a democracy advocate at Public Citizen, released the following statement:

“At the worst possible time, the SEC is unraveling one of the key tools of corporate accountability. With this rule the SEC is disenfranchising and silencing investors, the very group it’s supposed to protect. The rule limits the ability of shareholders- the owners of corporations- to engage with corporate management on critical long-term issues. The SEC should be facilitating shareholder democracy, not undermining it.”