• US Securities and Exchange Commission Proposes Proxy and Other Disclosure Changes
  • August 6, 2009
  • Law Firm: Mayer Brown LLP - Chicago Office
  • On July 10, 2009, the US Securities and Exchange Commission (the "SEC") issued proposed rule changes in Release Nos. 33-9052; 34-60280, titled "Proxy Disclosure and Solicitation Enhancements," available at http://www.sec.gov/rules/proposed/2009/33-9052.pdf, (the "Proposal"). The Proposal primarily would require changes in executive compensation and corporate governance disclosures, as well as requiring more timely reporting of shareholder meeting results and clarifying a number of issues with respect to the proxy soliciting process. Comments are due by September 15, 2009. The Proposal specifies that it is the SEC's intention for the final rules, if adopted, to be effective for the 2010 proxy season.