US Securities and Exchange Commission Proposes Proxy and Other Disclosure Changes
21 July 2009
Mayer Brown Legal Update
The US Securities and Exchange Commission has issued proposed rule changes that would require changes in executive compensation and corporate governance disclosures as well as more timely reporting of shareholder meeting results. The proposed changes would also clarify a number of issues with respect to the proxy soliciting process. Because the SEC has stated that it anticipates that the proposed amendments, if adopted, will be effective for the upcoming 2010 proxy season, it is very important that public companies begin considering how they would implement the changes. Comments to the SEC on this proposal are due by September 15, 2009.