US Senate Democrats aim to undo Trump-era shareholder voting rights rule

WASHINGTON: US Senate Democrats on Friday introduced a resolution to rescind a rule they say curbs shareholder voting rights, their second move aimed at unraveling business-friendly regulations introduced by former President Donald Trump's administration.

In a major win for the corporate lobby which had pushed for changes to overhaul shareholder voting rights, the SEC in September raised the stock ownership threshold at which investors can force a shareholder vote on specific issues. The SEC, now led by Democratic acting chair Allison Lee, who voted against the September rule, declined to comment.Barbara Roper, a director at the Consumer Federation of America, applauded Friday's move, noting that under the Congressional Review Act the SEC would be forbidden from writing a similar rule in future.

Friday's move followed an earlier resolution introduced by Democrats on Thursday to reverse another Trump-era rule which consumer groups said allows predatory lenders to evade state interest rate caps.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US Senate confirms first transgender doctor for key postVoting mostly along party lines, the US Senate on Wednesday (Mar 24) confirmed former Pennsylvania Health Secretary Rachel Levine to be the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US Senate China bill would create 'chief manufacturing' post in research boostWASHINGTON: US Senate committee leaders have drafted a compromise US$110 billion measure for basic and advanced technology research and science ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US Senate panel approves tech bill to address ChinaWASHINGTON :A U.S. Senate committee voted 24-4 to pass a compromise measure authorizing more than US$110 billion for basic and advanced technology ... nothing to do with tech...just propaganda for hate on China...biden biden another chip from the old block
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US university to pay more than US$1 billion in gynaecologist sex abuse settlementA top California university has agreed to pay more than US$1 billion to hundreds of women who accused a former campus gynaecologist of sexual ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Hitachi to buy US software developer GlobalLogic for US$9.6 billionHitachi Ltd said on Wednesday it will buy U.S. software company GlobalLogic Inc for US$9.6 billion, including repayment of debt, as the Japanese ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »