Here Comes Proxy Access
The SEC has announced that it will “consider” the adoption of proxy access rules on August 25, 2010. It is probably a safe bet that when they are done “considering” the issue they will adopt final rules. Sometimes the final rules are not available for immediate publication and availability is delayed for a couple of weeks, so it may be difficult to tell for a period of time what actually has been adopted. In the meantime, refresh your recollection on the SEC’s prior proposal which Jill posted here, and my analysis of some of the problems with the proposed rule here. This will change the corporate governance landscape, and the only thing I can predict is the rules will be difficult to understand.
Contact Steve Quinlivan for more information.