By: Cydney Posner

You might be interested in these articles from the Washington Post and NYT reporting on interviews with SEC Chairman, William Donaldson. In the Post interview, Donaldson indicates that the proxy access proposal that could give certain shareholders more power to nominate corporate directors has no chance of passing in its current form and will have to be rewritten. Donaldson said, however, that he "still hopes the SEC will approve some measure during his tenure to give shareholders more power to elect board members of their choosing, but that doing so will be difficult." Both articles reflect on whether the SEC is retrenching on corporate reform, in response to political pressure, or simply going though a normal process of examining the impact of significant reform before proceeding further.

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