The Destructive Ambiguity of Federal Proxy Access

Authors

Jill E. Fisch

Abstract

After almost seventy years of debate, on August 25, 2010, the U.S. Securities and Exchange Commission adopted a federal proxy access rule. The D.C. Circuit promptly invalidated the new rule before it ever went into effect. This Article examines the ill-fated rule and concludes that, although the D.C. Circuit did not identify its flaws, the rule was ambiguous in its application and unlikely to increase shareholder input into the composition of corporate boards.

Recommended Citation

Jill E. Fisch, The Destructive Ambiguity of Federal Proxy Access, 61 Emory L. J. 435 (2012).
Available at: https://scholarlycommons.law.emory.edu/elj/vol61/iss3/1