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SEC ends its no-action relief process for shareholder proposals

Image of the SEC building in Washington, DC.
Photo: David Ake/Getty Images
Julie DiMauro profile image

Julie DiMauro

2 min read

The SEC’s statement informs public companies that it will discontinue CorpFin’s practice of responding to shareholder proposal no-action requests, effective immediately.

The SEC’s Division of Corporation Finance (CorpFin) has announced that it will no longer respond to company requests for no-action letters regarding the exclusion of shareholder proposals from proxy materials.

This was the agency’s second announcement about how it intends to treat such requests and is its most telling

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