Our attorneys have wide-ranging experience over many years in the corporate governance arena. As a result of this expertise, our lawyers have been helping clients cope with the array of legislative and regulatory responses coming out of the U.S. Congress, the U.S. Securities and Exchange Commission and major U.S. stock exchanges.
SEC Publishes Proxy Access Proposal
June 19, 2009 Full PDF
In June, the SEC published its proposal that would permit proxy access for shareholders. These proposed rules would (i) create a federally mandated procedure to allow the inclusion of shareholder nominees in company proxy materials, (ii) account for differing proxy access procedures established by state law or a company's governing documents while imposing certain uniform disclosure and procedural requirements with respect to such procedures and (iii) narrow the current election exclusion under Rule 14a-8(i)(8) so as to facilitate shareholder proposals relating to proxy access. The proposed rules would apply to U.S. listed companies that are subject to the SEC's proxy rules.