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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

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 statement

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