Regulatory Alerts2021-05-06 | 2021-08301Added
Reopening of Comment Period for Universal Proxy
The Securities and Exchange Commission is reopening the comment period for its 2016 proposal to require universal proxy cards in contested director elections until June 7, 2021. This action allows stakeholders to provide feedback on the rules in light of recent developments in corporate governance, such as increased proxy contests involving funds and the rise of virtual shareholder meetings. The Commission specifically seeks data and analysis regarding minimum solicitation thresholds, the impact of dual-class stock structures, and the costs and benefits associated with the proposed regulatory framework.
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