Securities and Exchange Commission: Facilitating Shareholder Director Nominations
GAO-10-1065R: Sep 29, 2010
- Full Report:
GAO reviewed the Securities and Exchange Commission's (SEC) new rule on facilitating shareholder director nominations. GAO found that (1) the final rule adopts changes to the federal proxy rules to facilitate the effective exercise of shareholders' traditional state law rights to nominate and elect directors to company boards of directors; and (2) SEC complied with applicable requirements in promulgating the rule.