U.S. House Committee on Financial Services Chairman French Hill and Capital Markets Subcommittee Chairman Ann Wagner welcomed a decision by the D.C. District Court that upheld the Securities and Exchange Commission’s 2020 amendments to Rule 14a-8, which governs when shareholder proposals must be included in company proxy statements. The statement framed the amendments as modernization of the shareholder proposal process and a way to limit the burden of duplicative or low-support proposals. Hill and Wagner argued the ruling supports SEC flexibility to update outdated rules, reduce unnecessary costs for public companies, and protect the integrity of the shareholder proposal process, and said the Committee will continue efforts to streamline the proxy process and reduce burdens for companies seeking to compete in U.S. public markets.
U.S. Financial Services Committee 2025-06-06
U.S. House Committee on Financial Services leaders applaud court decision upholding SEC’s 2020 Rule 14a-8 amendments
The U.S. House Committee on Financial Services welcomed a D.C. District Court decision upholding the SEC's 2020 amendments to Rule 14a-8, which modernize the shareholder proposal process. The amendments aim to reduce duplicative or low-support proposals and unnecessary costs for public companies. The Committee plans to continue efforts to streamline the proxy process and reduce burdens on companies in U.S. public markets.