WASHINGTON, D.C. – Tom Quaadman, executive vice president, Center for Capital Markets Competitiveness, U.S. Chamber of Commerce issued the following statement after the United States Securities and Exchange Commission (SEC) released its final rule reforming shareholder proposals:
“The Eisenhower-era rules on shareholder proposals no longer reflected the needs of 21st century investors and businesses. They allowed special interest activists to push narrow agendas unrelated to the success of public companies and investor return. The U.S. Chamber commends the SEC on today’s shareholder proposal rule which will improve communications between investors and businesses and ultimately promote a modern and effective regulatory structure. We look forward to continuing our work with the SEC as the new rule is implemented.”
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