Tuesday, April 24, 2007
The Securities and Exchange Commission announced today that it will host a series of roundtable discussions in May on shareholder rights and the federal proxy rules. The first of three roundtables will take place on May 7, 2007 and will consist of panels addressing:
The federal role in upholding shareholders' state law rights
The purpose and effect of the federal proxy rules
Non-binding proposals under the proxy rules
Binding proposals under the proxy rules
"When Congress charged the SEC with regulating the proxy process for public companies, it created a federal role for the vindication of shareholders' state law rights," said SEC Chairman Christopher Cox. "This roundtable will explore the relationship between the federal proxy rules and state corporation law, and pose questions to the participants about whether this relationship can be improved."
The second and third roundtables on proxy voting will take place on May 24 and 25, 2007, respectively. A final agenda and list of participants and moderators will be published for each roundtable closer to the dates of the roundtables. See SEC Announces Roundtable Discussions Regarding Proxy Voting.