President Biden’s Securities and Exchange Commission (SEC) is increasingly becoming an advocate for Environmental, Social, and Governance (ESG) activists to the detriment of its core mission.

In its latest iteration, the SEC is using its enforcement discretion to roll back recent reforms to rule 14a-8. These changes make it more difficult for companies to exclude ancillary proposals that are clear attempts to use the shareholder process to implement unrelated political agendas.

The SEC’s core mission is to “protect investors”, “maintain fair, orderly, and efficient markets”, “facilitate capital formation”, and protect “main street investors and others who rely on our markets to secure their financial futures.”

Click to read the full article in Forbes.

Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.

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