A New World Order: What Your Board Should Know About Proxy Access



After considering proxy access for 30 years, the Securities and Exchange Commission (the “SEC”) on August 25, 2010 voted 3-2 to adopt a proxy access rule (the “proxy access rule”). The rule was published in the Federal Register on September 16, 2010, and will become effective on November 15, 2010. The adoption and publication of the proxy access rule, along with the onset of mandatory, non-binding “Say on Pay” votes on executive compensation as mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), mark the beginning of a new era in the relationship between the board of directors of a public company and its shareholders. This Legal Alert will discuss the most significant provisions of the proxy access rule and analyze its impact on public companies, before summarizing steps a board of directors should take in preparation for the new world order.

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Sutherland Asbill & Brennan LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.