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Congress Disapproves SEC Rule on Shareholder Proposals

Congress has rejected new Securities and Exchange Commission (SEC) rules regarding how shareholders can submit proposals. This means that the previous, less restrictive rules for shareholder participation in company governance remain in effect, potentially making it easier for citizens who are shareholders to influence corporate decisions.
Key points
Congress disapproved the SEC rule on procedural requirements and resubmission thresholds for shareholder proposals.
The rejection means the SEC's November 2020 rule will not take effect, maintaining existing regulations.
This makes it easier for shareholders, including individual citizens, to submit and resubmit proposals at company meetings.
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Expired
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Additional Information
Print number: 117_SJRES_16
Sponsor: Sen. Brown, Sherrod [D-OH]
Process start date: 2021-03-25
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A joint resolution 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_SJRES_16.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-03-25.

What are the main provisions?

Key points include:

  • Congress disapproved the SEC rule on procedural requirements and resubmission thresholds for shareholder proposals.
  • The rejection means the SEC's November 2020 rule will not take effect, maintaining existing regulations.
  • This makes it easier for shareholders, including individual citizens, to submit and resubmit proposals at company meetings.
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 Sen. Brown, Sherrod [D-OH].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Economy