The shareholder proposal rule goes into effect today, barring any further announcement from the Securities and Exchange Commission to amend its effective date. The lesser known rule was finalized together with the controversial proxy access rule back in April of this year.
In an earlier statement from the SEC where it confirmed it would not be seeking a rehearing on the snubbed proxy access rule, the Commission announced a stay order that would provide that “the stay of the effective date of the amendments to Rule 14a-8 [the shareholder proposal rule] and related rules will expire without further Commission action when the court’s decision is finalized, which is expected to be September 13.” As of yesterday, the SEC had released no further details.
