by Andrew C. Liazos, Joseph S. Adams and Crescent A. Moran
On January 18, 2011, the SEC announced that it will be holding an open meeting to consider adopting final rules under Section 951 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. It is expected that final rules will be issued at that time regarding the procedures to be followed when soliciting shareholder advisory votes to approve the compensation of executives and the frequency of shareholder say-on-pay votes. For further details regarding the requirements under Section 951, click here. The final rules will be important for public companies to evaluate prior to filing proxies on and after January 25, 2011. We will post a copy of the final rules on this blog when they become available and thereafter will publish an On the Subject summarizing the key aspects of the final rules.