• The SEC Shareholder Access Proposal: What Is It and What Should You Do About It?
  • November 17, 2003
  • Law Firm: Dechert LLP - Office
  • The Securities and Exchange Commission recently proposed rules that would require public companies (including registered investment companies) to include shareholder nominees for director in their proxy materials. The SEC's proposal would constitute a significant change to the current proxy rules, and although the final rules may differ significantly from the proposal, there is little doubt that the SEC intends to make substantive changes to the current proxy rules governing election of directors and the shareholder nomination and proposal process. Even though the proposed rules are open for comment until December 22, 2003, the SEC expects the final rules to apply to shareholder meetings occurring after January 1, 2004.