The SEC Division of Investment Management declined a request to take a no-action position from a registered investment company that sought to exclude proxy materials on a shareholder proposal to "declassify" the Fund's Board.
News & Insights
The SEC updated its Proxy Rules and Schedule 14A Manual of Publicly Available Telephone Interpretations and the 1999 Supplement. The SEC said that it is continuing a process of updating broader "Compliance and Disclosure Interpretations" relating to the proxy rules.
The SEC Division of Corporation Finance changed its intake procedures for issuers requesting "informal, non-binding staff views regarding companies' intentions to exclude shareholder proposals from their proxy statements."
The SEC instituted proceedings to determine whether to approve a FINRA proposal that would change margin requirements for certain types of "protected" index options.
The SEC re-approved amendments to FINRA margin requirements on "to-be-announced" and other "Covered Agency Transactions."