A change proposed by the U.S. Securities and Exchange Commission could end corporate activism for people like Sister Nora Nash, a nun with the Sisters of St. Francis of Philadelphia out of Neumann University in Aston, writes Emily Chasan and Saijel Kiswhan for Bloomberg.com.

The Sisters use their limited retirement fund shareholder status to file hundreds of proposals with companies to push for change on guns, tobacco, and fracking.

Now, the SEC has a plan to limit proposals from small investors like the Sisters, requiring higher ownership thresholds to submit proposals.

Companies have said that frequent proposals from small investors can be a costly drain on management’s time. But Nash said she hears a different response, and is disappointed in the SEC’s proposal.

“We’re helping corporations to realize that they can improve,” she said.

Nash and her community have taken a vow of poverty but maintain a small investment portfolio to support healthcare for elderly nuns. The shareholder-proposal process has been one of their most effective ways to hold companies accountable, said Nash, the order’s director of corporate social responsibility.

Read more about the proposed changes by the SEC at Bloomberg.com here.

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