Securities And Exchange Commission Amends Rules Regarding Delivery Of Proxy Materials To Households
- Topics:
- Commercial Litigation
- Source:
- Jenkens & Gilchrist
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Overview: The Securities and Exchange Commission has adopted amendments to its proxy rules designed allow companies to satisfy the SEC’s requirements for delivery of proxy statements to security holders who share the same address by providing a single proxy statement to those security holders. This delivery method is commonly referred to as “householding.” Through householding, companies will be able to reduce their printing and mailing costs, and security holders will no longer receive unwanted duplicative information. The rules also allow householding of information statements and continue to allow the householding of annual reports. In addition, the amendments permit intermediaries, such as banks and brokers who hold securities for their customers, to household proxy materials and permit issuers to request intermediaries to household or prevent intermediaries from householding proxy materials. This article summarizes the changes implemented by the amendments and suggests some specific actions issuers may wish to consider in light of the amendments.
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Format: PDF | Size: 22KB | Date: Nov 2000 | Pages: 4
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