• SEC Proposes New Rules to Allow Distribution of Proxy Materials on the Internet
  • January 24, 2006 | Authors: Valerie Ford Jacob; Warren S. de Wied; Daniel J. Bursky; Stuart H. Gelfond; Michael A. Levitt; Paul D. Tropp
  • Law Firm: Fried, Frank, Harris, Shriver & Jacobson LLP - New York Office
  • The SEC recently proposed amendments to the proxy rules which would allow a company to satisfy its proxy delivery obligations by posting its proxy materials on a publicly accessible website and providing shareholders written notice of the posting. If, as expected, these proposals are adopted broadly as proposed, they are likely over time to lead to a significant reduction in printing and mailing costs for issuers as they migrate to a web-based solicitation and distribution model. At the same time, the proposals would benefit shareholders and other persons conducting their own proxy solicitations by providing them with a similar method of furnishing proxy materials via the Internet, thereby reducing the costs of a proxy contest.