US shareholders scored one of their biggest victories in many years on Wednesday when regulators proposed new rules allowing them to nominate company directors. The SEC has considered the controversial rule three times in the past five years, but failed to pass it. This time the five-member commission voted 3-2 to propose the rule, which would allow large shareholders such as pension funds to nominate up to a quarter of a company’s board members.

This entry was posted by Gwen Robinson on Thursday, May 21st, 2009 at 4:53 and is filed under Capital markets. Tagged with sec. Edit this entry.