Category: SEC Proxy Rules 166

Recently, the Securities and Exchange Commission has voted to adopt amendments related to proxy voting advice. This amendment was originally proposed in November 2021, and the amendments were finalized to avoid placing burdens on businesses. The concern was related to the timeliness of independent advice businesses. Now, the ame
In a new rule effective January 1, 2010, the SEC has eliminated discretionary voting on directors by brokers. In the past, this rule allowed brokers to vote proxies on behalf of beneficial shareholders for uncontested directors for publicly held companies, as long as the beneficial shareholder had received the proxy materials wi