Today’s announcement from the U.S. Securities and Exchange Commission that it will no longer substantively review corporate no-action requests under Rule 14a-8 represents a dangerous abandonment of the agency’s longstanding role as a neutral arbiter in the shareholder proposal process.
Read MoreShareholder representatives As You Sow and Interfaith Center for Corporate Responsibility (ICCR) filed a request with the U.S. Securities and Exchange Commission (SEC) to rescind its effective approval of ExxonMobil’s “Retail Voting Program.”
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