A slew of alarmed investors have contacted the U.S. Securities and Exchange Commission ahead of a proposed rule change that could make it more difficult for small investors to propose new strategies concerning issues like climate change to publicly traded companies.
The SEC has received more than 13,500 comments since the end of last year from people, including Wisconsin Sen.Tammy Baldwin (D., Wis.) and New York City Comptroller Scott Stringer, in regards to a proposal to raise the monetary value of stocks an investor needs to hold in a company to file shareholder proposals to $25,000, up from the current level of $2,000.
The agency has also proposed to increase the level of shareholder support a resolution needs to garner in order for it to be resubmitted for consideration in subsequent years. The move could deprive less-wealthy investors of the ability to influence corporate conduct on a range of issues from pollution to gender parity. Read Full Article, Karma, May, 1, 2020