SEC Proposes Amendments to Proxy Rules Related to Voting Advice

The SEC has issued a proposed rule, Proxy Voting Advice. The proposed rule would “remove a condition to the availability of certain exemptions from the information and filing requirements of the Federal proxy rules for proxy voting advice businesses” and “remove a note that provides examples of situations in which the failure to disclose certain information in proxy voting advice may be considered misleading within the meaning of the Federal proxy rules’ prohibition on material misstatements or omission.”

For more information, see the press release and fact sheet as well as statements by SEC Commissioners Elad L. Roisman, Allison H. Lee, Hester M. Peirce, and Caroline A. Crenshaw on the SEC’s Web site