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January 22, 2007
Full Text of SEC's Rule on Internet Availability of Proxy Materials
Today, the SEC posted the full text of its new rule on Internet Availability of Proxy Materials. Of course, as the rule provides, Notices of Internet Availability of Proxy Materials may not be sent to shareholders before July 1, 2007.
This rule has the potential to increase shareholder activism by reducing the cost of engaging in proxy solicitations. Clearly, issuers will also benefit from reduced costs. Let's see what happens.
Link: http://www.sec.gov/rules/final/2007/34-55146.pdf
Concurrently, the SEC is seeking comments on a Proposed Rule that would require issuers and other soliciting persons to post the proxy materials on a website and to give shareholders a choice about how they wish to receive proxy materials.
Link: http://www.sec.gov/rules/proposed/2007/34-55147.pdf
(ag) Jan. 22, 2007, in Securities Law/Corporate Governance
January 22, 2007 in Corporate Governance, Securities Law | Permalink
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