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SEC staff publishes C&DI clarifying shareholder proposals on proxy cards

  • SEC (US Securities and Exchange Commission) Image

Mar 23, 2016

The staff in the SEC’s Division of Corporation Finance has issued a compliance and disclosure interpretation (C&DI) that clarifies how a registrant should “describe a Rule 14a-8 shareholder proposal on its proxy card.”

The guidance states that for both management and shareholder proposals, a proxy card should “clearly identify and describe the specific action on which shareholders will be asked to vote.” The guidance also provides examples of proposals that do not meet the requirements in Rule 14a-4(a)(3).

For more in­for­ma­tion, see the C&DI on the SEC’s Web site.

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