Stop Woke Investing Act

1/2
Status In Committee
Sponsor Eric Schmitt
Citation 118-S-3179
Actions 2
Introduced Nov 1st, 2023
Cosponsors
2
Last Action Nov 1st, 2023
Policy Area
Introduced Senate Nov 1
Senate
House
President
Enacted

Summary

AI Guide

What this bill does

Loading AI analysis…

Stop Woke Investing ActThis bill requires the Securities and Exchange Commission (SEC) to amend regulations to limit the inclusion of shareholder proposals in proxy statements. A proxy statement is provided to shareholders prior to a public company holding a shareholder meeting and contains information relevant to a shareholder vote. Under current SEC rules, certain qualifying shareholder proposals must be included on a company's proxy statement, including proposals that raise significant social policy issues.Under the bill, a shareholder proposal must have a material effect on the financial performance of the company to be included in a proxy statement. The bill also establishes a cap on the number of shareholder proposals required to be included with respect to a shareholder meeting depending on the size and type of the company. In addition, a proposal submitted by a member of the board of directors is prohibited from inclusion.

Actions

2
Senate
INTRODUCED
INTRODUCED
Nov 1, 2023
ON FLOOR
REFERRED TO COMMITTEE
Version
Font size