Kirkland Alert Kirkland & Ellis LLP

SEC Approves NYSE Rule Change to Eliminate Broker Discretionary Voting in Director Elections

This Kirkland Alert,authored by partners Carol Anne Huff and R. Henry Kleeman, discusses amendments to the NYSE's Rule 452 that, nearly three years after they were originally proposed, will provide that the election of directors is not a routine matter for which NYSE member firm brokers would be permitted to cast votes for uninstructed shares.