On August 14, the Division issued a statement announcing that, “effective immediately” and “unless and until the Division announces otherwise,” it will no longer respond to no-action requests for, or express its views on, companies’ intended reliance on any procedural or substantive basis under Rule 14a-8 for their exclusion determinations. The new action expands the suspension of the Division’s role reviewing those determinations that was in effect during the last proxy season.

The Division’s new statement is available here.

Click here to read our full SEC Update publication.

Authored by Alan Dye (co-editor), Richard Parrino (co-editor), Kevin Greenslade, and Weston Gaines.