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Sarbanes-Oxley News & Developments
SEC Adopts Rules On DisclosureDisclosures of nominating committee functions and communications between security holders and boards of directors.
> > The SEC adopted rules that will improve disclosure to investors regarding the nominating committee processes of public companies and the ways by which security holders may communicate with directors at the companies in which they invest. These rules implement recommendations made by the Division of Corporate Finance to the Commission in its July 15 Staff Report; Review of the Proxy Process Regarding the Nomination and Election of Directors.
The disclosure requirements will enhance the transparency of the nominations and communications processes of public companies and are the next step in the implementation of the recommendations in the Staff Report. The Commission has solicited public comment on other rule proposals that would implement recommendations regarding the inclusion of disclosure of security holder nominees in company proxy materials.
Source: SEC
Published:2003-11-25
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