Client Alert
SEC Proposes Amendments to Proxy Disclosure and Solicitation Rules
July 23, 2009
The SEC recently proposed rules that would enhance proxy statement disclosures pertaining to several hot topics, including a company's overall compensation policies and their impact on risk taking, stock and option awards of executives and directors, director and nominee qualifications and legal proceedings, company leadership structure, the board’s role in the risk management process and potential conflicts of interest of compensation consultants. The proposed amendments also would transfer from Forms 10-Q and 10-K to Form 8-K the requirement to disclose shareholder voting results. Finally, the proposed rules would amend the current proxy rules to clarify the manner in which they operate and address issues that have arisen in the proxy solicitation process. The SEC expects the final rules to be effective in time for the 2010 proxy season, so companies should begin now to assess the impact of the proposed rule changes on their proxy statement disclosures and processes.
Click here to read our client alert about the SEC's recent proposals.
Contact Information
If you have any questions regarding the SEC's recent proposals, please contact either the Womble Carlyle attorney with whom you usually work or one of our Corporate and Securities attorneys.
Womble Carlyle client alerts are intended to provide general information about significant legal developments and should not be construed as legal advice on any specific facts and circumstances, nor should they be construed as advertisements for legal services.
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