On July 30, 2018, the United States Securities and Exchange Commission (the “SEC”) announced that it intends to host a roundtable in the fall 2018 to hear from market participants regarding the SEC’s rules governing the proxy process. This roundtable is expected to provide issuers, investors and others the opportunity to participate in a conversation with the SEC regarding the proxy process, which is timely given the significant increase in shareholder engagement and enhanced influence of proxy advisory firms, and may provide valuable insight into contemplated SEC rulemaking in this area.”
The SEC has identified several potential topics to be addressed at the roundtable, including the corporate voting process, retail shareholder participation, shareholder proposals, the role of proxy advisory firms, technology and innovation, and potential SEC actions for consideration. The full agenda for the roundtable has not yet been determined.
The SEC has invited comments regarding the proxy process, either in advance of or after the roundtable. No firm deadline has been set for comments to be considered at the roundtable. If you are interested in learning more about the comment process, please contact your Foley & Lardner attorney.