{"id":2088,"date":"2021-11-11T11:18:45","date_gmt":"2021-11-11T16:18:45","guid":{"rendered":"https:\/\/seci.wpenginepowered.com\/?p=2088"},"modified":"2021-11-11T11:18:45","modified_gmt":"2021-11-11T16:18:45","slug":"shareholder-proposals-corpfin-issues-staff-legal-bulletin-14l","status":"publish","type":"post","link":"https:\/\/seciblog.pli.edu\/index.php\/shareholder-proposals-corpfin-issues-staff-legal-bulletin-14l\/","title":{"rendered":"Shareholder Proposals \u2013 CorpFin Issues Staff Legal Bulletin 14L"},"content":{"rendered":"<p>On November 3, 2021, CorpFin issued <a href=\"https:\/\/www.sec.gov\/corpfin\/staff-legal-bulletin-14l-shareholder-proposals\">Shareholder Proposals: Staff Legal Bulletin No. 14L<\/a> to provide information about <a href=\"https:\/\/www.ecfr.gov\/current\/title-17\/chapter-II\/part-240#240.14a-8\">Rule 14a-8 \u2013 Shareholder Proposals<\/a>.\u00a0 The new Staff Legal Bulletin, or SLB, rescinds old SLBs 14I, 14J and 14K.<\/p>\n<p>The first section of the new SLB:<\/p>\n<p style=\"padding-left: 30px;\">\u201coutlines the Division\u2019s views on Rule 14a-8(I)(7), the ordinary business exception, and Rule 14a-8(i)(5), the economic relevance exception.\u201d<\/p>\n<p>The discussion of these issues surrounds the significant social policy exception and micromanagement.<\/p>\n<p>The SLB also republishes with some \u201cprimarily technical, conforming changes,\u201d earlier SLB guidance about using graphics and images, and proof of ownership letters.<\/p>\n<p>Lastly, the new SLB includes new guidance about using email for submission of proposals, delivery of notice of defects, and responses to those notices.<\/p>\n<p>You can gain perspective about the changes in the SLB in this <a href=\"https:\/\/www.sec.gov\/news\/statement\/gensler-statement-shareholder-proposals-14l\">Statement from Chair Gary Gensler<\/a> and this <a href=\"https:\/\/www.sec.gov\/news\/statement\/peirce-roisman-statement-shareholder-proposals-staff-legal-bulletin-14l\">Statement from Commissioners Peirce and Roisman<\/a>.<\/p>\n<p>As always, your thoughts and comments are welcome.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On November 3, 2021, CorpFin issued Shareholder Proposals: Staff Legal Bulletin No. 14L to provide information about Rule 14a-8 \u2013 Shareholder Proposals.\u00a0 The new Staff Legal Bulletin, or SLB, rescinds old SLBs 14I, 14J and 14K. The first section of the new SLB: \u201coutlines the Division\u2019s views on Rule 14a-8(I)(7), the ordinary business exception, and &hellip; <a href=\"https:\/\/seciblog.pli.edu\/index.php\/shareholder-proposals-corpfin-issues-staff-legal-bulletin-14l\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Shareholder Proposals \u2013 CorpFin Issues Staff Legal Bulletin 14L<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[143,242],"tags":[],"coauthors":[154],"class_list":["post-2088","post","type-post","status-publish","format-standard","hentry","category-hot-topic","category-reporting"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/2088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/comments?post=2088"}],"version-history":[{"count":0,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/2088\/revisions"}],"wp:attachment":[{"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/media?parent=2088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/categories?post=2088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/tags?post=2088"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/seciblog.pli.edu\/index.php\/wp-json\/wp\/v2\/coauthors?post=2088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}