Proxy Access Without Proxy Access Rules

Law360, New York (September 15, 2011, 1:41 PM EDT) -- On Sept. 7, 2011, the U.S. Securities and Exchange Commission announced that it would not seek a rehearing of the U.S. Court of Appeals for the D.C. Circuit decision vacating the SEC’s proxy access rules, nor appeal the decision to the U.S. Supreme Court.

The proxy access rules were adopted on Aug. 25, 2010. In the announcement, SEC Chairwoman Mary Schapiro indicated that she remains “committed to finding a way to make it easier for shareholders to nominate candidates to corporate boards” but stated that the...
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