Shareholder Protection Act
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: describe the specific nature and total amount of expenditures proposed for political activities for the forthcoming fiscal year; and 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.Name
The bill was introduced as H.R. 4790 on March 9, 2010. It has the official short title: the Shareholder Protection Act. Its official long title is:
