The Securities and Exchange Commission may have lost the battle on mandatory shareholder proxy access, but it did quietly enact a new rule that paves the way for investors to put director nominees on the proxy at companies via shareholder resolution.
On the same day earlier this month that the SEC announced it will not seek a rehearing on the D.C. Circuit Court of Appeals’ decision to vacate the highly publicized proxy access rule, it announced that a second rule on proxy access would soon be taking effect.
