By Cydney Posner

The WSJ is reporting that the SEC will wait until early 2010 to decide on proxy access, with the result that most companies would not be affected until the 2011 proxy season.

Originally, we had heard that the vote was scheduled for November. According to the article, SEC Chair Mary Schapiro "said she is committed to holding a vote by SEC commissioners but wants to take time to review hundreds of comments." Many business groups, such as the U.S. Chamber of Commerce, have opposed the idea, warning that failure to provide ample time to respond to the proxy access proposal could violate federal administrative procedures.

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