As discussed in our September 2, 2010 Public Companies Alert, the SEC adopted proxy access rules on August 25, 2010. The proxy access rules become effective 60 days after publication in the Federal Register. Since the rules were published in the Federal Register on September 16, 2010, the proxy access rules will become effective on November 15, 2010. However, the deadline for submitting a nominee is 120 days before the anniversary of the mailing of the prior year’s proxy statement. Accordingly, since the rules become effective on November 15, 2010, the new proxy access rules would effectively be applicable in the 2011 proxy cycle to companies (other than smaller reporting companies) that mailed their 2010 proxy statement on or after March 15, 2010.

http://edocket.access.gpo.gov/2010/pdf/2010-22218.pdf