The SEC will kick off a new process for handling requests to exclude shareholder proposals this upcoming proxy season. Starting in 2020, the agency may no longer provide written responses to shareholder requests.
When a company seeks to exclude a proposal, the staff informs the proponent and the company of its position on the request. The staff may concur, disagree or decline to state a view with respect to the company’s asserted basis for exclusion. This has been and will be the basic outline of the process.
What will make this year different, however, is a new Division of Corporation ...
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