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By Patrick Gadson, Partner, Vinson & Elkins After six years of starts and stops, the Securities and Exchange Commission has voted to adopt new rules ushering in universal proxy cards in contested ...
A proxy statement is a statement required of a firm when soliciting shareholder votes. [1]: 10 This statement is filed in advance of the annual meeting.The firm needs to file a proxy statement, otherwise known as a Form DEF 14A (Definitive Proxy Statement), with the U.S. Securities and Exchange Commission.
The SEC's nearly finalized rule on the proxy voting process is an encouraging first step. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 ...
The proxy voting rules were relaxed further, and in 1969, official figures recorded 19,287 votes cast by proxy, about 7% of the total votes cast (an increase from 2.5% in 1964 to 1968). [36] Amidst allegations of fraud, more restrictions were placed on proxy voting in 1973; in that year, about 10,000 votes were cast by proxy. [37]
On November 17, 2021, the SEC adopted new rules for universal proxy cards in contested director elections. The new rules give shareholders who are voting by proxy the ability to vote for any combination of candidates being nominated to the board, as opposed to having to choose from either the list provided by the company or by proxy solicitations.
The Securities and Exchange Commission announced Thursday that it was changing federal proxy rules to make it easier for companies' shareholders to nominate and elect directors to their boards.
However, in 2022 the SEC adopted certain amendments that rescinded those rules, including: Rule 14a-2(b)(9)(ii), and related safe harbors and exclusions, which provided proxy voting advisory businesses with two conditions for exemption from the proxy rules’ information and filing requirements:
Institutional Shareholder Services is pressing ahead with a lawsuit against the Securities Exchange Commission after the securities regulator last month issued a new rule that governs how proxy ...