SEC delays implementation of proxy access rule and related Rule 14a-8

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Permalink Reply by Devin LaSalle on August 1, 2011 at 2:15pm

Several news sources report that the United States Court of Appeals for the District of Columbia issued an opinion on July.22 in the Business Roundtable v. SEC case vacating the proxy access rules.

What can shareholder rights advocates do now to see to it that the SEC does not abandon this effort?

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Permalink Reply by Andrew Shapiro (Lawndale) on August 1, 2011 at 2:25pm

Dodd Frank still supported some form of shareholder access. But where it is on the pecking order of things the SEC is mandated to pursue I don't know. The specifics of the rules themselves don't appear to have been ruled against, rather than the process. Shareholder rights advocates with the resources to assist the SEC in meeting the court mandated cost/benefit analysis should get involved sooner rather than later. You can bet the opposition will be providing their evidence supporting costs outweigh benefits. Others should be prepared to participate again in likely comment period on new proposals. 

Devin LaSalle said:

Several news sources report that the United States Court of Appeals for the District of Columbia issued an opinion on July.22 in the Business Roundtable v. SEC case vacating the proxy access rules.

What can shareholder rights advocates do now to see to it that the SEC does not abandon this effort?

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Permalink Reply by Devin LaSalle on September 15, 2011 at 3:54pm

Let us hope that the SEC has a plan in mind.

http://www.martindale.com/corporate-law/article_Haynes-Boone-LLP_13...

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