Federal appeals court throws out SEC proxy access rule

[JURIST] The US Court of Appeals for the District of Columbia Circuit [official website] on Friday overturned [opinion, PDF] the Securities and Exchange Commission (SEC) [official website] "proxy access" rule. The rule allowed certain shareholders to have their board nominees listed on company-mailed proxy ballots that also list the management’s preferred candidates. Otherwise, the shareholders would incur the costs of mailing out separate ballots. The petitioners, the US Chamber of Commerce (COC) and the Business Roundtable [official websites], argued that…