Sep. 21, 2026
SEC moves to exit shareholder fights
The SEC has proposed rescinding Rule 14a-8, the federal rule requiring companies to include qualifying shareholder proposals in their proxy materials, a move that would leave the issue to state law and company bylaws and could produce a patchwork of state rules and new litigation.
The Securities and Exchange Commission is proposing to dismantle the federal system that for decades has allowed shareholders to put proposals in corporate proxy statements, potentially replacing a single national framework with a patchwork of state laws and company rules.
The SEC voted Wednesday to propose rescinding Rule 14a-8 of the Securities Exchange Act of 1934, which establishes when companies must include qualifying shareholder proposals in their proxy materials. The agenc...
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