SEC Delays Proxy Access Rule Changes Until 2010

Law360, New York (October 2, 2009, 6:51 PM EDT) -- U.S. Securities and Exchange Commission Chairwoman Mary Schapiro said late Friday that proposed changes to proxy access rules would not be finalized until 2010 at the earliest, following a deluge of comments to the regulator.

"I am committed to bringing final rules before the commission regarding the ability of shareholders to nominate directors,” Schapiro said. “We have received hundreds of comments that we are reviewing to ensure our rules are fair and appropriate. It is my hope to finalize the rules early in the new year."...
To view the full article, register now.