The revised proxy rules: an unfinished effort to improve shareholder communication
Article Abstract:
The revised proxy rules, promulgated by the SEC in 1992, seek to increase shareholder communication, increase institutional investors' influence, eliminate unnecessary preliminary filing requirements, and promote active solicitation efforts and aggressive shareholder activities. While the revised rules serve an important purpose in promoting shareholders' influence, their intent is blunted by Section 13(d) of the Securities Exchange Act, anti-takeover provisions, and poison pills. Such provisions restrict shareholder communication and work against the intent of the proxy rule revisions.
Publication Name: Annual Institute on Securities Regulation
Subject: Law
ISSN: 0195-5756
Year: 1995
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Proposed changes to the proxy solicitation rules
Article Abstract:
The SEC has issued Release No 34-30849 to revise its proposed rules for proxy solicitation, which would result in increased solicitation and decreased disclosure. The proposed proxy rules were originally intended to facilitate shareholder activism by fostering communication, but the consequences of these revisions would work against that goal. Solutions to the problems with the revisions include more application of Notice Form 14, and The American Society of Corporate Secretaries agrees that such solutions are needed.
Publication Name: Annual Institute on Securities Regulation
Subject: Law
ISSN: 0195-5756
Year: 1992
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Shareholder initiatives, institutional investors and the SEC: 14A-8 proposals and new proxy rules
Article Abstract:
The SEC has proposed new rules to facilitate the increasing trend of shareholder and institutional investor activism. New rules for shareholders would include executive compensation, the Exxon By-Law Amendment and Rule 14a-8. New rules for proxies would require the publication of stockholder proposals to inform shareholders, and allow shareholders increased intercommunication. Proxy rules would also allow access to lists of security holders and disclosure of voting.
Publication Name: Annual Institute on Securities Regulation
Subject: Law
ISSN: 0195-5756
Year: 1992
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