The SEC's Proposed Shareholder Access Rules

Law360, New York (August 6, 2009, 1:25 PM EDT) -- The U.S. Securities and Exchange Commission recently proposed new Rule 14a-11 under the Securities Exchange Act of 1934 (the "Exchange Act").

If the proposed rule is adopted, it will require that companies, under certain circumstances, include in their proxy materials nominees for director that are nominated by a shareholder or group of shareholders.

The SEC also proposed changes to Rule 14a-8(i)(8) that would require, under certain circumstances, that companies include in their proxy materials shareholder proposals to amend a company's governing documents regarding nomination procedures or...
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