Today’s developments are ominous for socially responsible investors. The SEC decided to move ahead with two separate proposals, one of which would virtually end the practice of filing advisory shareholder resolutions. The other proposal seemed to expand shareholder rights, but is vague enough that it could lead to more restrictions for shareholders. Read about the two proposals here.

SEC Chairman Cox strongly indicated his preference to put one of the proposals in place before the start of proxy season ‘08. This means the SEC will likely move quickly to reach a decision. As with most regulations or proposals, the devil is in the details, and we will have a better assessment of the situation as the process moves forward and the specifics of the proposals are made clear.