Yesterday, the SEC decided to stay the effectiveness of the proxy access rules pending resolution of a petition for review filed in connection with this lawsuit filed by the Business Rountable and U.S. Chamber of Commerce. As a result, proxy access will not take effect in 2010 and its potential applicability to the 2011 proxy season is in limbo.
The stay applies to the implementation of the new proxy access Rule 14a-11, as well as related amendments to Rule 14a-8, which governs shareholder proposals. The stay will allow the court to conduct an expedited review of the lawsuit; however, even a highly expedited case in which the court decides to hear oral arguments (probable in this case) will likely take several months to resolve.
PartnerMark Reuter advocates for business clients in transactions, proceedings and conflicts regulated by federal and state securities laws and stock exchange rules. A partner in the firm’s Business Representation & Transactions ...
Subscribe
RSS Feed
Follow us on Facebook
Follow us on Twitter
Follow us on LinkedInTopics/Tags
Select- Corporate Transparency Act
- SEC
- Securities Law
- Securities Regulation
- Nasdaq
- Cybersecurity and Privacy Law
- Corporate Law
- EDGAR
- EDGAR Next
- IRS
- Cybersecurity Regulation
- Tax Planning
- Coronavirus
- Clawback Rules
- SEC Enforcement
- Taxation
- Dodd-Frank
- Mergers & Acquisitions
- Paycheck Protection Program
- JOBS Act
- Corporate Tax
- Corporate Governance
- FAST Act
- Economic Sanctions
- Ohio LLC Act
- Consumer Protection Act
- Proxy Access Rules
- Securities Litigation
- Crowdfunding
- Conflict Minerals
- Cryptocurrency
- Hedging
- Real Estate Law
- Emerging Growth Companies
- Investors
- Pay Ratio Disclosure
- Whistleblower
- Private Offerings
- Intellectual Property
- Technology
- LIBOR
- Opportunity Zone
- Executive Compensation
- Health Care Act
- Accredited Investors
- Sales Tax
- United States Supreme Court
- Online Trading Platforms
- Wall Street Reform
- IPO
- Registration Statement
- Annual Reports
- Family-Controlled Entities
- Gift and Estate Transfers
- Ohio Foreclosure Reform
- Director Compensation
- Board of Directors
- Director Independence
- Total Shareholder Return
- Cyber Insurance
- Data Breach
- Lenders
- Receivership Statute
- Regulation A
- Regulation D
- CDEs
- CDFI Fund
- Community Development Entities
- Community Development Financial Institutions Fund
- Compensation Committee Certification
- Government Shutdown
- New Markets Tax Credit
- NMTC
- NMTC Financing
- Regulation Fair Disclosure
- Social Media
- Litigation
- Marketing
- Benefits
- Healthcare Reform
- Public Company Transition Rules
- Employment Incentives
- HIRE Act
- Social Security Tax
- Tax Credit
Recent Posts
- Corporate Transparency Act Update: FinCEN Eliminates Reporting Obligations for U.S. Companies and U.S. Persons
- Corporate Transparency Act Update: FinCEN Will Not Enforce the CTA Until Interim Rule is Effective
- Corporate Transparency Act Update: Injunction Lifted - Corporate Transparency Act Back in Effect
- Corporate Transparency Act Update: FinCEN Says Reporting Obligations Remain On Hold
- Next Up in 2025: EDGAR Next
- Corporate Transparency Act Update: Supreme Court Stays Nationwide Injunction – CTA Reporting Obligations Back in Effect
- Corporate Transparency Act Updates: Fifth Circuit Vacates the Stay and Preliminary Injunction Reinstated
- Corporate Transparency Act Reporting Deadline Back in Effect; FinCEN Grants Deadline Extension
- Fifth Circuit Nixes Nasdaq Board Diversity Rules
- Corporate Transparency Act Update: Texas Federal Court Issues Nationwide Injunction