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

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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