On September 6th, the SEC announced that it will not seek rehearing of the decision by the D.C. Circuit Court of Appeals vacating SEC Rule 14a-11, which would have required companies to include shareholders' director nominees in company proxy materials in certain circumstances, nor will the SEC seek Supreme Court review of the decision. However, the SEC noted that Rule 14a-8, the shareholder proposal rule, which was adopted at the same time as Rule 14a-11, was not challenged and will go into effect. Under that rule, eligible shareholders may require companies to include shareholder proposals regarding proxy access procedures in company proxy materials. Through this procedure, shareholders and companies have the opportunity to establish proxy access standards on a company-by-company basis. SEC Press Release.