SEC Approves Proxy Disclosure Enhancements

On December 16, 2009, the SEC voted to approve final rules on proxy disclosure and solicitation enhancements which had been initially proposed by the SEC in July 2009. As stated in the SEC's adopting release the new rules will be effective February 28, 2010, meaning they will apply to the 2010 proxy season for substantially all calendar year issuers. The new rules will require revisions to director and officer questionnaires in connection with the expanded disclosure in the areas outlined in our client advisory at kmklaw.com.

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