HR 52 ยท Stop Woke Investing Act
Referred to the House Committee on Financial Services.
- Introduced
- Jan 3, 2025
- Latest action
- Jan 3, 2025
- Sponsor
- Rep. Andy Biggs [R-AZ-5]
- Policy area
- Finance and Financial Sector
- Cosponsors
- 2
Summary
Stop Woke Investing Act This 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 in 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 as a shareholder proposal.
Recent actions
- Jan 3, 2025 Referred to the House Committee on Financial Services.
- Jan 3, 2025 Introduced in House
- Jan 3, 2025 Introduced in House
Votes
No recorded votes are available for this bill.