Wilson Quoted on SEC Proxy Access Rules

Foley Partner John Wilson was quoted in an article that appeared in Agenda on October 11, 2010 titled “No Proxy Access in 2011 as SEC Approves Stay.” Wilson discusses the SEC order agreeing to delay the implementation of proxy access until the D.C. circuit court rules on a lawsuit seeking to overturn the regulation. He states that the order makes sense given the legal implications of moving forward with proxy access only to have it invalidated by the court, but notes that the SEC would likely appeal the decision were the circuit court to overturn the regulation. Wilson adds that companies should be proactive with their shareholders in the event that the SEC moves forward with a modified version of its proxy access rules.