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SEC Adopts Final Rules Regarding Nominating Committee Functions and Communications Between Security Holders and Boards of Directors

 By Goodwin Procter LLP

The SEC has adopted final rules that require disclosure in proxy statements regarding the operations of board nominating committees and the means, if any, by which security holders may communicate with members of the board of directors. The new rules enhance the disclosure requirements for proxy statements regarding the director nominating process and add a new disclosure requirement concerning communications between security holders and boards of directors.

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