Tell the Securities and Exchange Commission to Protect the Voice of Small Investors!
On November 5th 2019, the Securities and Exchange Commission (SEC) proposed a rule that will limit small investors’ ability to file shareholder proposals and bring their concerns to corporate managers and boards. The Presbyterian Church (U.S.A) has been a driving force in shareholder advocacy and corporate engagement since the early 1970s. We use our power as shareholders in publicly-held corporations to bring issues and concerns to the forefront of companies. Our ability, as faith-based investors, to file shareholder proposals and hold corporations accountable for their actions, is now being compromised.
This proposed rule will make it incredibly difficult for smaller faith-based investors to bring issues core to our values such as mitigating climate change and human trafficking prevention, before corporate management. This is a blatant attempt to insulate companies from accountability to their shareholders.
There are already robust rules in place guiding the shareholder proposal process that work well and keep frivolous proposals at bay. This proposed rule will only keep faith- and values-based shareholders, like the PCUSA and other faith groups, from bringing salient issues to the attention of corporate management.
Lift your voice TODAY!
As people of faith, we must speak up and protect our ability to hold corporations accountable. The proposed rule is currently open for public comment until February 3rd. Prepare and submit your comments here.
Let your voice be heard and submit your comment TODAY!
A sample comment can be found here.