SEC to consider amendments to disclosures in director elections
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The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst
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(Reuters) - The U.S. Securities and Exchange Commission said on Wednesday it would consider proposing amendments to disclosures on voting options and standards in director elections in a meeting next week.
The SEC is expected to propose rules that would make it easier for shareholders to vote on board candidates nominated by investors, in competition with those fielded by the management, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
The new rules would focus on a universal ballot, which will have a single voting form in elections as opposed to two sets of ballots received by voters in contested elections, the paper said. (http://on.wsj.com/2elDa6Z)
For investors, the rules could bolster shareholder choice in activist campaigns, particularly when targeting the votes of smaller investors, the paper added.
(Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by Lisa Shumaker)
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