A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Procedural Requirements and Resubmission Thresholds Under Exchange Act Rule 14a-8".

2021-03-25

Introduced in Senate

This joint resolution nullifies the final rule issued by the Securities and Exchange Commission titled Procedural Requirements and Resubmission Thresholds Under Exchange Act Rule 14a-8 and published on November 4, 2020.

The rule provides additional requirements for the inclusion of shareholder proposals in proxy statements, such as increasing the securities ownership requirements for submitting a proposal and increasing the level of support a proposal must receive to be eligible for resubmission at a future shareholder meeting. (Proxy statements must be filed by a publicly traded company and provided to shareholders before shareholder meetings. Proxy statements contain information regarding matters such as the election of directors and shareholder proposals.)

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