SEC To Seek Comment On Updates To Proxy Rules

Law360, New York (July 14, 2010, 5:55 PM EDT) -- The U.S. Securities and Exchange Commission voted unanimously Wednesday to solicit public comments in connection with its first review in three decades of the proxy system that governs the way investors vote their shares in public companies.

At an open meeting Wednesday, the SEC issued a concept release seeking comment on whether rule revisions should be considered relating to the voting process, the manner in which shareholders and corporations communicate, and the relationship between voting power and economic interest.

Once the release is published in the...
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