The SEC wants corporations to have to convert their policies to Marxist ideology, but calls it climate change and social change activism. Corporations are being harassed by wealthy Marxist activists seeking to use their power to force companies to not only make a profit, but conform to the leftist ideology.
With a mere adjustment of regulations, with no new laws being passed, Biden’s SEC, RedSEC as we call it now, is now unilaterally deciding that corporations must conform to Marxist policies whenever Marxists target them through their billionaire proxies that are enabling this destruction of the American republic.
Shareholders Up Climate, Social Demands After SEC Policy Shift
From news.bloomberglaw.com
2022-04-04 10:07:30
Excerpt:
The SEC is quashing more company requests to exclude shareholder proposals related to climate and social issues from their proxies after a significant policy change in November.
The agency said last year that it would start factoring in broader social policy considerations when evaluating requests to cast aside proxy proposals that companies see as micromanagement or interfering with regular business operations.
That policy shift on “no-action letters” has emboldened retail and activist investors to be more aggressive with environmental and social proxy proposals, said Derek Zaba, a Sidley Austin LLP partner and co-chair of the firm’s shareholder activism practice.
“Some companies are choosing not to even bother with going through the no-action process because they don’t believe there’s a level of success with years past,” Zaba said.
“No-action” letters are essentially green lights for companies to cast aside shareholder proposals without fear of an enforcement…
