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About: Shareholder Protection Act     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:Legislation106535222, within Data Space : dbpedia.org associated with source document(s)

Type: personyago:Abstraction100002137yago:CivilLaw108453464yago:Collection107951464yago:Group100031264yago:Law108441203yago:Legislation106535222 New Facet based on Instances of this Class

The proposed Shareholder Protection Act is a bill that was introduced to the United States House of Representatives in 2010. It would amend the Securities Exchange Act of 1934 to require that any solicitation of a proxy, consent, or authorization with respect to any security of an issuer: (1) describe the specific nature and total amount of expenditures proposed for political activities for the forthcoming fiscal year; and (2) provide for a separate shareholder vote to authorize such proposed expenditures. The bill was introduced by Representative Michael Capuano, a Democrat from Massachusetts, partially as a response to the Supreme Court's ruling in Citizens United v. Federal Election Commission. As of October 10, 2010, it had 49 cosponsors.