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SEC steps back from proxy reviews as pressure mounts on activist voting

Members of the board all turn to face the camera during a board meeting, 1993.
Photo: Alfred Gescheidt/Getty Images

Alexander Barzacanos

2 min read
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Regulator cites resource and timing considerations as reason for change.

The SEC’s Division of Corporation Finance (Corp Fin) has announced that, for the 2025-26 proxy season, it will mostly stop issuing no-action responses on whether companies may omit shareholder proposals under Securities Exchange Act Rule 14a-8.  

The SEC will continue to weigh in only when companies invoke Rule 14a-8(i)(1),

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