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SEC proposes new transparency rules for directors

REGULATORY UPDATE

The Securities and Exchange Commission (SEC) proposed new disclosure rules in early August that will heighten transparency around director nominations and increase communication between shareholders and companies' boards. The proposed rules follow on from a series of recommendations made by the SEC's corporate finance division in a mid-July document, Staff report: review of the proxy process regarding the nomination and election of directors.

The proposals ask companies to have a separate

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