• Securities and Exchange Commission Publishes Division of Corporation Finance's Staff Report: Review of the Proxy Process Regarding the Nomination and Election of Directors
  • September 4, 2003 | Author: R. Daniel Witschey
  • Law Firm: Bracewell & Giuliani LLP - Houston Office
  • Based on recent staff reports and press releases from the Securities and Exchange Commission, the next several months may see some significant proposals from that agency with respect to corporate democracy and the nomination and election of directors. One prominent issue -- whether shareholders may place their own nominees in a company's proxy materials -- has been discussed intermittently for 60 years. Because of concern over a perceived lack of accountability of corporate directors and recent corporate scandals, an SEC rulemaking in this area seems more likely now than at any time in recent memory.