Jenner & Block

Client Advisory: SEC Adopts Rules on Disclosure of Nominating Committee Functions and Communications Between Security Holders and the Boards of Directors

On November 19, 2003, the SEC adopted rules intended to enhance the transparency of the operations of public company Boards of Directors with regard to the disclosure in proxy statements regarding the nominating committee processes and the ways security holders may communicate with directors.  The SEC Update below discusses the new disclosure requirements and shareholder communications.