SEC Adopts Final Proxy Access Rules

September 16, 2010
The Securities and Exchange Commission recently adopted proxy access rules intended to assist shareholders in their ability to nominate and elect directors to a company’s board of directors. New Rule 14a-11 requires a company to include a shareholder nominee for director in its proxy materials, subject to certain conditions as set forth in the rule. New amendments to Rule 14a-8 limit the ability of a company to exclude certain shareholder proposals from its proxy materials. This update summarizes the key elements of the new rules.