Inside SEC's Latest Guidance On Shareholder Proposals

Law360, New York (November 9, 2017, 12:29 PM EST) -- On Nov. 1, 2017, the staff of the Division of Corporation Finance of the U.S. Securities and Exchange Commission issued Staff Legal Bulletin No. 14I to provide guidance on shareholder proposals submitted pursuant to Rule 14a-8 under the Securities Exchange Act of 1934.[1] SLB 14I addresses four topics in the shareholder proposal area:

the scope and application of the ordinary business grounds for exclusion under Rule 14a-8(i)(7); the scope and application of economic relevance grounds for exclusion under Rule 14a-8(i)(5) for proposals relating to less than 5 percent of a company's total assets, net earnings and gross sales; proposals submitted on behalf of...

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