United States:
SEC Interprets Proxy Voting Advice To Constitute Solicitation Subject To Federal Proxy Rules
05 September 2019
Cahill Gordon & Reindel LLP
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On August 21, 2019, the Securities and Exchange Commission
("SEC" or "Commission") issued an
interpretation that proxy voting advice provided by proxy advisory
firms such as Institutional Shareholder Services Inc. and Glass
Lewis & Co. generally constitutes a solicitation subject to the
federal proxy rules. The Commission also explained that
solicitations that are exempt from the federal proxy rules'
information and filing requirements remain subject to Securities
Exchange Act ("Act") Rule 14a-9.
SEC Interprets Proxy Voting Advice to Constitute
Solicitation Subject to Federal Proxy Rules.pdf (pdf | 43.48 KB
)
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