{"id":32138,"date":"2008-03-26T16:35:41","date_gmt":"2008-03-26T21:35:41","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/uncategorized\/sec-proposes-new-disclosure-rules-regarding-nomination-of.html"},"modified":"2008-03-26T16:35:41","modified_gmt":"2008-03-26T21:35:41","slug":"sec-proposes-new-disclosure-rules-regarding-nomination-of","status":"publish","type":"corporate","link":"https:\/\/corporate.findlaw.com\/corporate-governance\/sec-proposes-new-disclosure-rules-regarding-nomination-of.html","title":{"rendered":"SEC Proposes New Disclosure Rules Regarding Nomination of Directors and Shareholder Communications With Directors"},"content":{"rendered":"
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On August 6, 2003, the Securities and Exchange Commission (SEC) voted to propose changes to its proxy rules that, if enacted, will require companies to disclose additional information in their proxy statements regarding the nomination of directors and shareholder communications with directors.<\/p>

The proposed rules are based on the Division of Corporation Finance's recommendations to the SEC in its July 15, 2003 staff report. The staff report is available at www.sec.gov\/news\/studies\/proxyreport.pdf<\/a>.<\/p>

Nomination of Directors.<\/b> The proposed rules require disclosure of additional information regarding the way in which a company nominates its directors. Under the proposed rules, a company may be required to disclose:<\/p>