Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Wednesday, July 11, 2007

SEC Plans to Propose Proxy Access Rule

The SEC is circulating a draft proposal that would allow 5% shareholders to nominate candidates for the board of directors and may present the plan at its open meeting scheduled for July 28.  Chair Cox has previously promised to propose a proxy access rule this year.  A 5% threshold will certainly be viewed as too high by shareholder advocates.  See WSJ, SEC Proxy-Access Proposal Draws Fire From Investors.

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