SEC Votes to Reopen Comment Period for Universal Proxy

The SEC is reopening the comment period on its proposed rules requiring “the use of universal proxy cards in all non-exempt solicitations in connection with contested elections of directors.” The purpose of reopening the comment period is to give interested persons a chance to provide additional comments on the proposed rules in view of economic and other developments that have occurred since the proposal’s original release.

Comments on the proposal are due 30 days after the date of its publication in the Federal Register.

For more information, see the press release on the SEC’s Web site.