SEC Pauses Proxy Access Rules Amid Challenge

Law360, New York (October 4, 2010, 6:34 PM EDT) -- The U.S. Securities and Exchange Commission said Monday that it would delay implementation of a controversial new final rule on proxy access pending resolution of a legal challenge brought by the U.S. Chamber of Commerce and Business Roundtable in a federal appeals court.

The SEC granted the business trade groups' administrative motion to stay the effect of newly adopted Rule 14a-11 and associated amendments to the SEC's proxy access rules, including an amendment to Rule 14a-8, until the U.S. Court of Appeals for the District of...
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