SEC Issues Proxy-Related C&DIs.

The Securities and Exchange Commission (SEC) issued one revised and five new proxy-related compliance and disclosure interpretations (C&DIs). The revised interpretation clarifies the "10 calendar day" period between filing a preliminary proxy statement and the definitive proxy statement. The new interpretations address Rule 14a-12, which permits solicitations before the furnishing of a proxy statement, and the treatment and effect of universal proxy cards. Additionally, a new interpretation explains when the solicitation of security holder approval for the authorization of additional shares of common stock "involves" another matter. These interpretations provide guidance on various aspects of proxy-related compliance and disclosure. [Extracted from the article]