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Stop Woke Investing Act

USA118th CongressS-3179| Senate 
| Updated: 11/1/2023
Eric Schmitt

Eric Schmitt

Republican Senator

Missouri

Cosponsors (2)
Mike Braun (Republican)Ted Budd (Republican)

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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 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.
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Timeline
Nov 1, 2023
Introduced in Senate
Nov 1, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Oct 22, 2024

Latest Companion Bill Action

HR 118-10020
Introduced in House
  • November 1, 2023
    Introduced in Senate


  • November 1, 2023
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • October 22, 2024

    Latest Companion Bill Action

    HR 118-10020
    Introduced in House

Finance and Financial Sector

Related Bills

  • HR 118-10020: Stop Woke Investing Act

Stop Woke Investing Act

USA118th CongressS-3179| Senate 
| Updated: 11/1/2023
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 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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Nov 1, 2023
Introduced in Senate
Nov 1, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Oct 22, 2024

Latest Companion Bill Action

HR 118-10020
Introduced in House
  • November 1, 2023
    Introduced in Senate


  • November 1, 2023
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • October 22, 2024

    Latest Companion Bill Action

    HR 118-10020
    Introduced in House
Eric Schmitt

Eric Schmitt

Republican Senator

Missouri

Cosponsors (2)
Mike Braun (Republican)Ted Budd (Republican)

Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

Related Bills

  • HR 118-10020: Stop Woke Investing Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted