The SEC’s new proxy access rules, announced on August 25, 2010, finally appeared in the Federal Register today, which means they will be effective as of November 15, 2010. The 120-day notice period for Rule 14a-11 nominations means that the new rules will be available for the 2011 proxy season so long as a company’s most recent annual meeting proxy statement was mailed on or after March 15, 2010. Companies that qualify as ‘‘smaller reporting companies’’ are not subject to Rule 14a–11 until three years after the effective date.
Please click here to access commentary on the proxy access rules.
Please click here to access a summary of the proxy access rules.