The U.S. SEC is considering abolishing the shareholder proxy proposal rules

According to Bloomberg, the U.S. Securities and Exchange Commission (SEC) plans to abolish the relevant rules regarding when and how shareholders of listed companies can submit shareholder proxy proposals, as indicated by the latest information released by the White House Office of Management and Budget (OMB).

According to a notice published on Monday, the SEC submitted the proposal to the White House OMB for review last week. This is the latest step by SEC Chairman Paul Atkins to change the dynamics of the relationship between shareholders of listed companies and company management.

In simple terms, the SEC is proposing to adjust the regulatory rules for shareholders of listed companies to submit proxy proposals, and the proposal is currently still in the OMB review stage.