The SEC has been quite active rulemaking in the area of investment company governance – last week, it proposed new governance standards for investment companies and codes of ethics for investment advisers.
Probably the most controversial aspect of the proposals is to require that at least 75% of a fund’s board be independent directors – and that the fund board chairman be an independent director.
Loads of Law Firm Guidance for the Proxy Season
During the past week, the number of law firm memos on what to disclose during this proxy season in our “Proxy Season Resource Center” has more than doubled. And more are being added daily!