In Ignites, a Financial Times publication covering the mutual fund industry, capital markets partner and co-chair Craig Marcus (Boston) examines how new U.S. Securities and Exchange Commission Staff guidance is expected to narrow the circumstances where companies will be able to exclude shareholder proposals from their proxy statements, particularly on topics involving environmental, social and governance issues.
Craig notes the new guidance revokes three prior Staff Legal Bulletins that had the effect of requiring the SEC to make materiality judgments leading to inconsistent no-action positions on similar proposals
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