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ARTICLE · 27 JUNE 2023

SEC Commissioner Proposes Limits To Shareholder Proposals On Environmental And Social Issues

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
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SEC Commissioner Uyeda, one of two Republican commissioners on the Securities & Exchange Commission, delivered remarks yesterday at the Society for Corporate Governance's National Conference...

United StatesEnvironment
Jacob Hupart
Jacob Hupart
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SEC Commissioner Uyeda, one of two Republican commissioners on the Securities & Exchange Commission, delivered remarks yesterday at the Society for Corporate Governance's National Conference, in which he broached the idea that the SEC should adopt a regulation that a shareholder "proposal would be excluded if it focuses on a social policy issue that is not materially related to the company." The primary rationale for this regulation is that "many proposals have been submitted in an attempt to force public companies to take positions on various political issues" and "[s]hareholder meetings were not intended under state corporate laws to be political battlegrounds or debating societies."

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