Regulatory Alerts2016-11-10 | 2016-26349Added · Updated
Universal Proxy
The Securities and Exchange Commission proposes amendments to federal proxy rules to mandate the use of universal proxies in all non-exempt solicitations for contested director elections. This requirement would include both registrant and dissident nominees on a single proxy card, allowing shareholders to vote for any combination of candidates similar to in-person voting. The proposal also amends disclosure and voting option standards to clarify applicable voting procedures for all director elections.
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