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SEC Publishes New "Voluntary" E-Proxy Rules and Proposes "Mandatory" Version
January 26, 2007 Full PDF
The SEC published final rules related to the Internet distribution of proxy materials. Under these new "e-proxy" rules, companies and other soliciting persons will now have the option of adopting a "notice-and-access" model of proxy distribution by giving shareholders notice of the Internet availability of, and online access to, the materials, unless a shareholder requests e-mail or paper copies of such materials instead. The earliest that companies may begin sending notices of Internet availability of proxy materials is July 1, 2007. The notice-and-access model is not available for proxy materials related to business combinations, although the SEC intends to evaluate whether this model should be expanded in the future.