How The SEC Can Promote Economic Justice Beyond Shareholders

The incoming Biden administration is about to make significant policy choices. One clear choice is to enact policy that creates more opportunity for economic success for more people across more of America.

Recent proposals for a more "accountable capitalism" center on establishing federal charters for U.S. corporations that would require companies to protect the interests of stakeholders beyond just their shareholders. Some of these proposals have called for the establishment of a new federal agency to oversee U.S. corporations in order to achieve that goal. These are important policy suggestions that should be seriously explored.

The good news is that there already is a U.S. agency that has the ability to ensure that U.S. corporations promote broader economic success and take greater responsibility for the communities in which they operate. That agency is the Securities and Exchange Commission. The SEC has the authority and the capacity to serve as a force for