• SEC Proposes Rules Mandating Issuer Inclusion of Stockholder Director Nominations
  • December 1, 2003
  • Law Firm: Dechert LLP - Office
  • The Securities and Exchange Commission has proposed new rules ("Rules") that would require issuers to include in their proxy materials director nominees proposed by stockholders of the issuers. The proposed Rules would require the occurrence of certain "triggering" events before eligible stockholders may submit director nominations for inclusion in the issuer's proxy statement. The SEC believes that these triggers are indicative of stockholder dissatisfaction with, or ineffectiveness of, an issuer's proxy process. All registered investment companies would be subject to the Rules.