• US SEC Staff Offers Guidance on Exclusion of Shareholder Proposals from Company Proxy Statements
  • November 4, 2009 | Author: Laura D. Richman
  • Law Firm: Mayer Brown LLP - Chicago Office
  • Rule 14a-8(i) of the Securities Exchange Act of 1934 provides a list of the permitted, non-procedural reasons for an issuer to exclude a shareholder proposal from its proxy statement. Rule 14a-8(i)(7) allows an issuer to exclude a proposal that "deals with a matter relating to the company's ordinary business operations."