On August 17, 2009, Cleary Gottlieb submitted a comment letter to the SEC on the proposed rules to implement proxy access. The letter, which is attached below, takes into account the perspectives of corporate issuers and investors, as well as the firm’s current assessment of the regulatory environment and corporate governance developments in recent years, to arrive at a set of nuanced and constructive recommendations addressing proxy access.
This comment letter represents a collaboration among the firm’s leading M&A, governance and securities law practices and draws on the firm’s roles in high profile contests for corporate control and as advisor on governance and securities law matters for leading corporate issuers, as well as on the experience and insights gained at the SEC by our partners, including two former General Counsel of the SEC and two former Directors of the SEC’s Division of Corporation Finance.
Please feel free to contact any of your regular contacts at the firm or any of our partners and counsel listed under Corporate Governance, Capital Markets or Mergers, Acquisitions and Joint Ventures for further information or if you have any questions in connection with the proposed proxy access rules.
