Judges examine SEC's proxy access rule

04/7/2011 | Blog of Legal Times, The · Reuters

Federal appeals court judges on Thursday raised questioned about a Securities and Exchange Commission rule that would allow public-company shareholders to more easily nominate corporate directors. Opponents of the rule say it would put more power into the hands of unions and pension funds, and would be costly. SEC Assistant General Counsel Randall Quinn defended the rule, saying it would force companies to be "more responsive" to shareholders.

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Blog of Legal Times, The · Reuters

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