SEC Commissioner Wants To Limit Shareholder Activist Proposals

If a Republican Securities and Exchange commissioner has his way, it will become more difficult for activist investors with a political agenda to get their proposals put to a shareholder vote. “Activist investors and corporate gadflies have used these loose rules to hijack the shareholder proposal system,” SEC Republican Commissioner Daniel Gallagher was quoted as saying. “The vast majority of proposals are brought by individuals or institutions with idiosyncratic and often political agendas that are…unrelated to, or in conflict with, the interests of other shareholders.” Greenhouse gas emissions among “dubious” proposals As an example of politically motivated proposals Gallagher considers dubious…