Ralph Norman: “Basically, what my friends on the opposite side of the aisle are saying is that investors are too stupid to know where…”

“Basically, what my friends on the opposite side of the aisle are saying is that investors are too stupid to know where they put their money, if it is legitimate or not--get this--and they need help from staff judgments to decide which societal policy issues to prioritize. This is basically saying the American people are stupid. Nobody should be surprised that this has led to a spike in ESG- related shareholder proposals. Again, this political performance does not belong in the boardrooms. Companies should be governed to a maximum shareholder value on our retirement plans that should work toward healthy returns. I guess they are going to get the staff judgments to say if they are healthy returns or not. Allowing the SEC to politicize the shareholders' proposals hurts workers, retirement savers, and the American people. Mr. Chair, I urge the adoption of my amendment, and I yield back the balance of my time.”