3 Jul 2025
📄Proposed Rule 14f-1 Change Requires New Director Information
Proposed Collection; Comment Request; Revision: Rule 14f-1-Change in Majority of Directors
Summary
The SEC is proposing a revision to Rule 14f-1 regarding the information that issuers must provide when directors are elected outside of a security holders' meeting. This follows the Paperwork Reduction Act, aiming to streamline the information collection process related to director nominations. Comments are invited to enhance the effectiveness and clarity of this information request.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The content discusses a proposed revision to Rule 14f-1 under the Exchange Act, requiring companies to provide information about new director nominations, impacting compliance and governance practices. This affects business owners needing to adhere to the updated information collection process that may increase administrative burdens.