SEC Votes To Shield Online Shareholder Forums

Law360, New York (November 28, 2007, 12:00 AM EST) -- The U.S. Securities and Exchange Commission has voted unanimously to adopt changes to the federal proxy rules to encourage more online shareholder forums and shield chat room operators from liability.

Announcing the amendments at an open meeting Wednesday morning, SEC chairman Christopher Cox said the changes, first proposed in July, would give greater currency to electronic forums by clarifying the responsibilities of those who create or run them.

The announcement was made during the same meeting in which the SEC voted to adopt a plan allowing...
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