FOR IMMEDIATE RELEASE

Sept. 23, 2020

CONTACT:
Carter Dougherty
carter@ourfinancialsecurity.org
(202) 251-6700

Statement on SEC Rule on Shareholder Proposals

From Americans for Financial Reform Education Fund:

With this new rule, the SEC is undermining the ability of investors to use the shareholder proposal process to call companies to task on their failures to behave responsibly. Now, it will be much more expensive for small investors to submit shareholder proposals. It will be harder for them to resubmit proposals — a frequent practice — because of higher resubmission thresholds. It’s a gift of new power to irresponsible management and a blow to the cause of corporate accountability.

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