SEC Approves NYSE Amex Rule Eliminating Broker Discretionary Voting in Director Elections


On December 23, 2009, NYSE Amex LLC (the “Exchange”) filed with the Securities and Exchange Commission (“Commission”) a proposed rule to eliminate broker discretionary voting on the election of directors, other than for companies registered under the Investment Company Act of 1940. The proposal modifies NYSE Amex Equities Rule 452 (“Rule 452”) to add “the election of directors” to the list of matters on which member organizations are not entitled to give a proxy to vote without instructions from the beneficial owner. Additionally, the proposal requires a corresponding change to Section 723 of the NYSE Amex Company Guide (“Section 723”).

Please see full alert below for more information.

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

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.

© Miller & Martin PLLC | Attorney Advertising

Written by:


Miller & Martin PLLC on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*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. Or, sign up using your email address.