*Letters

SIA Submits Comments to the SEC on a Proposed Rule Relating to the Internet Availability of Proxy Materials

Published on:
February 13, 2006

The Securities Industry Association (SIA)* provides comments to the Securities and Exchange Commission (SEC)on a proposed rule relating to the internet availability of proxy materials, Release Nos. 34-52926; IC-27182; File No. S7-10-05. SIA believes the current system for delivering proxies is very efficient and cost-effective, and recommends that any changes to the system should be built upon its existing strengths and should not conflict with the current infrastructure. SIA warns the proposed rule would add cost to the current proxy system, and the proposed requirement that the shareholders receive proxy information from both intermediaries and issuers risks confusing shareholders and reducing shareholder participation in proxy matters.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.

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