Business Roundtable is the primary driver behind a set of proposed rules that would make it harder for a handful of shareholders to push activist issues, Bloomberg News reported.

The Securities and Exchange Commission will soon consider new rules that would make it easier for corporations to block certain investors—those who own shares primarily to force votes on a wide range of social issues, from corporate pay to climate change—from getting their proposals on corporate proxies, the documents shareholders may use to allow another person to vote for them at annual meetings. The SEC plan is heavily influenced by recommendations from BRT, with the group's current board chairman—JPMorgan Chase CEO Jamie Dimon—a vocal critic of shareholder activism, according to the news site.

BRT is far from the only business group critical of shareholder activism and the proxy advisory firms that push social issues. The U.S. Chamber of Commerce and National Association of Manufacturers have both advocated for rules to limit the practice. The Chamber joined BRT roughly a decade ago in a lawsuit opposing a proxy access rule, which was ultimately struck down in federal court.

BRT "has long been concerned about an out-of-date shareholder proposal process," the group told Bloomberg in a statement. The group added that it was "encouraged that the SEC plans to modernize the proxy process."

The SEC plans to take up the rules at its Nov. 5 meeting. https://yhoo.it/2r4czlb