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".

Bill: 117-hjres-36
Sponsor: full_name: Del. San Nicolas, Michael F. Q. [D-GU-At Large]
Introduced: 2021-03-26
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures

Congressional oversight

Corporate finance and management

Securities

Securities and Exchange Commission (SEC)
Latest action: action_date: 2021-03-26
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2021-03-26
action_desc: Introduced in House
text: <p>This joint resolution nullifies the final rule issued by the Securities and Exchange Commission titled <em>Procedural Requirements and Resubmission Thresholds Under Exchange Act Rule 14a-8</em> and published on November 4, 2020. </p> <p>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.)</p>

tv_txt: IA 117th CONGRESS 1st Session H. J. RES. 36 IN THE HOUSE OF REPRESENTATIVES March 26, 2021 Mr. San Nicolas submitted the following joint resolution; which was referred to the Committee on Financial Services 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 .

That Congress disapproves the rule submitted by the Securities and Exchange Commission relating to Procedural Requirements and Resubmission Thresholds Under Exchange Act Rule 14a–8 (85 Fed. Reg. 70240; published November 4, 2020), and such rule shall have no force or effect.