H.R. 4655 · 118th Congress
Businesses Over Activists Act
- Stage
- Reported from committee
- Sponsor
- Ralph Norman
- Introduced
- 2023-07-14
- Latest action
- 2023-12-19 · Reported (Amended) by the Committee on Financial Services. H. Rept. 118-326.
Summary
Businesses Over Activists Act
This bill prohibits the Securities and Exchange Commission (SEC) from compelling a publicly traded company to include a shareholder proposal or a discussion of a proposal in a proxy statement. Under current SEC rules, certain qualifying shareholder proposals must be included on a company's proxy statement. Proxy statements are provided to shareholders before shareholder meetings and contain disclosures required by the SEC.