Developments in Securities Regulation, Corporate Governance, Capital Markets, M&A and Other Topics of Interest. MORE

Tyco International has filed additional definitive proxy materials.  The filing states “Further, one of the larger proxy advisory firms, ISS Proxy Advisory Services, has recommended that its clients vote “against” Proposal 8a, while management, along with another large proxy advisory firm (Glass Lewis & Co.) has recommended that shareholders vote “for” this proposal.  We believe that ISS’s analysis of our executive compensation programs is flawed.  We outline below the reasons why we believe this and why we believe Tyco’s executive compensation programs pay for performance.”

This is not the first such filing this year (see Jacobs Engineering), nor will it be the last.

Check frequently for updates on the Dodd-Frank Act and other important securities law matters.