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Congress Disapproves SEC Shareholder Proposal Rule Changes

The U.S. Congress has rejected new rules from the Securities and Exchange Commission (SEC) regarding how shareholders can submit proposals. This means that the previous, less restrictive rules for shareholder participation in company governance remain in effect. For citizens holding stocks, this ensures their current ability to influence corporate decisions.
Key points
Congress overturned new SEC rules on shareholder proposals.
Previous, less restrictive rules for submitting shareholder proposals remain in force.
The current level of shareholder influence on corporate governance is maintained.
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Expired
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Additional Information
Print number: 117_HJRES_36
Sponsor: Del. San Nicolas, Michael F. Q. [D-GU-At Large]
Process start date: 2021-03-26
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Procedural Requirements and Resubmission Thresholds Under Exchange Act Rule 14a-8".

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HJRES_36.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-26.

What are the main provisions?

Key points include:

  • Congress overturned new SEC rules on shareholder proposals.
  • Previous, less restrictive rules for submitting shareholder proposals remain in force.
  • The current level of shareholder influence on corporate governance is maintained.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Del. San Nicolas, Michael F. Q. [D-GU-At Large].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy