Everyone calm down, hopes the SEC

Will there be no more shareholder resolutions? Many reform-minded activists fear a recent bureaucratic change by Washington's top Wall Street regulator will continue a shift of corporate power from investors to managers. But there is more to the story, as you can read about in my column this week, linked below.
     
I'm also including links to our coverage of the business risks of an AI collapse and a big court win for Tesla in California. 
          
Please follow me on LinkedIn and/or Bluesky. You can reach me via ross.kerber@thomsonreuters.com

A bureaucratic shift by the Securities and Exchange Commission on proxy resolutions this week drew howls of alarm from reform-minded investors worried that the agency just gutted a key tool for shareholder activism.
       
But there is more to the story, according to a person familiar with the SEC staff's decision. This person told me that with the changes, the SEC's Division of Corporation Finance tried to strike a delicate balance between protecting shareholder and corporate rights, and staff time.
        
We will know by next spring who was right. To read my column on the topic this week you can click the button below.

Sundar Pichai, CEO of Google and Alphabet Inc., at the 2024 Business, Government, and Society Forum at the Stanford Graduate School of Business in Stanford, California, U.S., April 3, 2024. REUTERS/Carlos Barria

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