FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, United States, June 24, 2011. REUTERS/Jonathan Ernst/File Photo
October 25, 2019
(Reuters) – The U.S. Securities and Exchange Commission (SEC) is set to propose new limits on shareholders’ ability to call for change at companies, the Financial Times reported on Friday, citing people familiar with the matter.
The regulator is expected to vote on the changes on Nov. 5, the people said, adding that the plans and timings may change.
The SEC is expected to propose rules that would require proxy adviser firms to give companies two chances to review proxy materials before they are sent to shareholders, according to the report. (https://on.ft.com/2WnRtdf)
It will also vote to increase the re-submission thresholds for motions that shareholders file at companies on issues ranging from executive compensation to climate change disclosures, the FT said.
(Reporting by Abhishek Manikandan in Bengaluru; Editing by Sriraj Kalluvila)
