WASHINGTON (Reuters) – U.S. Senate Democrats introduced on Friday their second resolution to undo Trump-era rules that curbed shareholder voting rights, a move that advocates would herald as a win for investors.
The resolution issued by Senate Banking Chairman Sherrod Brown under the Congressional Review Act would undo September 2020 proxy rules adopted by the Securities and Exchange Commission. Those rules had set new limits on shareholders’ ability to call for corporate changes on thorny issues like climate change disclosures and executive compensation.
The move to undo the rule would require a companion House of Representatives resolution before it can take effect.
(Reporting by Katanga Johnson; Editing by Chizu Nomiyama)
