To amend the Securities Exchange Act of 1934 to prohibit the Securities and Exchange Commission from compelling the inclusion or discussion of shareholder proposals or proxy or consent solicitation materials, and for other purposes.
Businesses Over Activists Act
This bill prohibits the Securities and Exchange Commission (SEC) from compelling a publicly traded company to include a shareholder proposal or a discussion of a proposal in a proxy statement. Under current SEC rules, certain qualifying shareholder proposals must be included on a company's proxy statement. Proxy statements are provided to shareholders before shareholder meetings and contain disclosures required by the SEC.
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