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Category Archives: Proxy access

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Conflict management: the Staff Legal Bulletin on shareholder proposals

Posted in Disclosure Guidance, Proxy access, Shareholder proposals

The SEC has issued its much-anticipated Staff Legal Bulletin on two rules impacting shareholder proposals. You can find the SLB here. The SLB looks a bit more benign than some had feared; in other words, it’s got some bad news, but the good news is that it’s not as bad as some feared. Rule 14a-8(i)(9)… Continue Reading

Shock and awe at the SEC (and turning it into chicken salad)

Posted in Bob's Upticks, No-action letters, Proxy access, Shareholder proposals

Something shocking happened at the SEC yesterday.  SEC Chair Mary Jo White directed the SEC Staff to review its long-standing position on when a shareholder proposal conflicts with a company proposal and may be excluded from the proxy statement.  As a result, the SEC’s Division of Corporation Finance withdrew a no-action letter that had given… Continue Reading