U.S. SEC staff outlines how companies might exclude a shareholder proposal from corporate elections - bulletin
WASHINGTON, Nov 3 (Reuters) - The U.S. Securities and Exchange Commission (SEC) published on Wednesday new staff bulletins outlining how the agency will allow listed companies to exclude a shareholder proposal from corporate ballots.
The new publications by the staff of the securities watchdog replaces Trump-era guidance that demanded companies take more steps to disclose how they craft their shareholder recommendations. Critics said that change aimed to stifle shareholders' voices.
The new SEC bulletin also comes ahead of an agency review of shareholder voting rule changes that SEC Chair Gary Gensler said he would consider drafting to better oversee proxy advisers - firms that recommend to investors on how to vote in corporate elections and cast ballots on behalf of some asset managers.
Shareholder voting rights have become a major bone of contention in recent years as more investors have pushed companies to take up social and environmental issues.
(Reporting by Katanga Johnson in Washington Editing by Michelle Price)
