The SEC’s proxy access rules, which were adopted in late August, were published in the Federal Register today. As provided for in the Adopting Release, the rules take effect 60 days after publication in the Federal Register. Under the rules, proxy access nominations generally must be made no later than the 120th day preceding the anniversary of the mailing of the registrant’s prior year annual meeting proxy materials. Accordingly, most registrants that mailed their 2010 annual meeting proxy materials on or after March 15, 2010, will be subject to the new proxy access rules for the 2011 proxy season.
For further information concerning the proxy access rules and the phase-in schedule, see our Alert describing the new rules.