Law360 (September 23, 2020, 8:08 PM EDT) — A divided Securities and Exchange Commission on Wednesday agreed to impose stiffer requirements for shareholders seeking to submit ballot proposals, drawing rebukes from critics who argue the changes favor corporate executives at the expense of investors.
By a 3-2 vote, the SEC enacted rules that raise thresholds affecting the ability of shareholders to submit new proposals or resubmit proposals that have previously failed. The SEC majority supporting the move, all of whom fill Republican seats, described the changes as modest fixes to outdated rules that have not been updated since 1998 and 1954, respectively.
Supporters also said the new 195-page rule reflects…
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!