Regulatory Alerts2021-12-01 | 2021-25492Added
Universal Proxy
The Securities and Exchange Commission adopted final rules requiring the use of universal proxy cards in all non-exempt director election contests to allow shareholders to vote for a mix of management and dissident nominees. The amendments establish specific notice, filing, and formatting requirements for participants in contested elections while excluding registered investment companies and business development companies. Additionally, the Commission mandated new disclosure standards for voting procedures and required specific voting options for all director elections to enhance shareholder voting flexibility.
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