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Court shoots down SEC rule that would have provided shareholders with the right to include director nominees in company proxy materials
  • Sullivan & Worcester LLP
  • USA
  • August 3 2011

Upon a finding that the Securities and Exchange Commission acted “arbitrarily and capriciously,” a panel of the U.S. Court of Appeals for the District of Columbia invalidated a new SEC rule that would have permitted an eligible shareholder or shareholder group to include its director nominees in a company’s proxy materials.


New SEC rules provide shareholders with the right to include director nominees in company proxy materials
  • Sullivan & Worcester LLP
  • USA
  • September 16 2010

After years of debate, the SEC has adopted rules that provide for the inclusion of director nominations by shareholders in company proxy statements and proxy cards.


SEC proposes overhaul of mutual fund distribution and service fees
  • Sullivan & Worcester LLP
  • USA
  • August 9 2010

The Securities and Exchange Commission (the "SEC") recently proposed a new rule and rule amendments that would eliminate distribution and services fees charged by mutual funds in accordance with Rule 12b-1 under the Investment Company Act of 1940 (the "1940 Act") but would authorize funds to charge a marketing and service fee and an ongoing sales charge.



John L. Chilton
  • Sullivan & Worcester LLP