Press Releases

Today, House Committee on Financial Services Chairman French Hill (AR-02) and Subcommittee on Capital Markets Chairman Ann Wagner (MO-02) applauded the recent decision by the D.C. District Court to uphold the Securities and Exchange Commission’s (SEC) 2020 amendments to Rule 14a-8. This rule governs the inclusion of shareholder proposals in company proxy statements and was revised to modernize the process and limit the burden of duplicative or low-support proposals.

“The court’s decision to uphold the SEC’s 2020 reforms to rule 14a-8 is a welcome win for common sense and good governance. The SEC must have the flexibility to modernize outdated rules, reduce unnecessary costs for public companies, and protect the integrity of the shareholder proposal process. The House Financial Services Committee will continue working to streamline the proxy process and reduce burdens for companies seeking to compete in our public markets,” said Chairman Hill and Subcommittee Chair Wagner.