NYSE Proposes Exemption for Proxy Voting for Uncontested Election of Investment Company Directors

June 01, 2007

On May 23, 2007, the New York Stock Exchange (the "Exchange") proposed an amendment to its initial rule proposal to amend Exchange Rule 452. Under the proposed amendment, any company registered under the Investment Company Act of 1940 (the "1940 Act") would not be subject to the change to discretionary voting for uncontested election of directors.

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