Making Sense Of SEC’s NOBO-OBO Rules

Katten Muchin Rosenman LLP
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The debate over proxy mechanics has focused on the desire of issuers to have more direct channels of communication with their retail shareholders, and a dissatisfaction with the Securities and Exchange Commission’s "NOBO-OBO" rules. This article responds to some of the questions that have arisen regarding these rules and the somewhat complicated regulatory context for communicating with retail shareholders.

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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.

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