The SEC announced plans to consider regulatory proposals, not related to any fraud or enforcement action.
raw: Press Release: Commission Announces Schedule For Action Regarding Section 404 of the Sarbanes-Oxley Act OF 2002, Foreign Private Issuer Deregistration, Internet Availability of Proxy Materials, and Securities Exchange Act Rule 14A-8; 2006-172; Oct. 11, 2006
The SEC announced plans to consider regulatory proposals, not related to any fraud or enforcement action.
The SEC scheduled an open meeting for December 13, 2006, to consider recommendations on Section 404 of the Sarbanes-Oxley Act, foreign private issuer deregistration, internet proxy delivery, and Rule 14a-8 revisions. No allegations or charges were involved. Chairman Christopher Cox highlighted the goal of improving the proxy process.
The SEC announced on October 11, 2006, that it would consider several regulatory proposals at an open meeting on December 13, 2006. The proposals included guidance on implementing Section 404 of the Sarbanes-Oxley Act in a more cost-effective manner, potential rule changes for foreign private issuer deregistration, a final rule on internet delivery of proxy materials, and revisions to Rule 14a-8 governing shareholder proxy proposals. Chairman Christopher Cox stated that these initiatives aimed to improve the dissemination and exchange of information between shareholders and companies. The meeting's agenda focused on regulatory efficiency and modernizing disclosure processes through technology. There were no allegations of misconduct, charges, or financial penalties involved in the announcement. The SEC's plans were aimed at reducing compliance burdens and enhancing shareholder-company communication.
Extracted insights
- person christopher cox ×2
- person John Nester ×2
- agency chairman of sec
- agency director of public affairs at sec
- agency Securities and Exchange Commission
- SEC announced schedule for action regarding Section 404 of the Sarbanes-Oxley Act of 2002, Foreign Private Issuer Deregistration, Internet Availability of Proxy Materials, and Securities Exchange Act Rule 14A-8
- SEC scheduled open meeting for December 13, 2006
- Christopher Cox is Chairman of SEC
- SEC will consider final rule for Internet proxy delivery
- SEC will consider proposals for revisions to shareholder proxy initiatives rule
- John Nester is Director of Public Affairs at SEC
Commission Announces Schedule for Action Regarding Section 404 of the Sarbanes-Oxley Act of 2002, Foreign Private Issuer Deregistration, Internet Availability of Proxy Materials, and Securities Exchange Act Rule 14A-8 FOR IMMEDIATE RELEASE 2006-172 Washington, D.C., Oct. 11, 2006 - The Securities and Exchange Commission today announced that it will consider, at an open meeting of the Commission to be held on Dec. 13, 2006, recommendations regarding Section 404 of the Sarbanes-Oxley Act of 2002, Foreign Private Issuer Deregistration, Internet Availability of Proxy Materials, and Securities Exchange Act Rule 14a-8. "The Commission�s proposed guidance to management is an important next step in making Section 404 of the Sarbanes-Oxley Act cost-effective and risk-based," said Chairman Christopher Cox. "This initiative, as well as foreign private issuer deregistration, will be addressed before year-end. At the same meeting, the Commission will consider a final rule for Internet proxy delivery, as well as proposals for revisions to our rule concerning shareholder proxy initiatives. This will permit discussion of how the Internet can advance the dissemination and exchange of information among shareholders and companies, and thereby improve the entire proxy process." For further information, contact John Nester, Director of Public Affairs, at (202) 551-4120. # # # http://www.sec.gov/news/press/2006-172.htm Home | Previous Page Modified: 10/11/2006
Commission Announces Schedule for Action Regarding Section 404 of the Sarbanes-Oxley Act of 2002, Foreign Private Issuer Deregistration, Internet Availability of Proxy Materials, and Securities Exchange Act Rule 14A-8 FOR IMMEDIATE RELEASE 2006-172 Washington, D.C., Oct. 11, 2006 - The Securities and Exchange Commission today announced that it will consider, at an open meeting of the Commission to be held on Dec. 13, 2006, recommendations regarding Section 404 of the Sarbanes-Oxley Act of 2002, Foreign Private Issuer Deregistration, Internet Availability of Proxy Materials, and Securities Exchange Act Rule 14a-8. "The Commission�s proposed guidance to management is an important next step in making Section 404 of the Sarbanes-Oxley Act cost-effective and risk-based," said Chairman Christopher Cox. "This initiative, as well as foreign private issuer deregistration, will be addressed before year-end. At the same meeting, the Commission will consider a final rule for Internet proxy delivery, as well as proposals for revisions to our rule concerning shareholder proxy initiatives. This will permit discussion of how the Internet can advance the dissemination and exchange of information among shareholders and companies, and thereby improve the entire proxy process." For further information, contact John Nester, Director of Public Affairs, at (202) 551-4120. # # # http://www.sec.gov/news/press/2006-172.htm Home | Previous Page Modified: 10/11/2006