Client Alert

| July 27, 2010

SEC Issues “Proxy Plumbing” Concept Release to Seek Comment on the U.S. Proxy Voting System

On July 14, 2010, the Securities and Exchange Commission (the “SEC”) voted unanimously to issue a concept release to solicit public comment on a variety of issues involving the U.S. proxy voting system.

For more information, please contact your Dewey & LeBoeuf relationship partner, or one of the following:

Michael F. Fitzpatrick

+1 212 259 6670

Steven P. Lund

+1 212 259 6630

Elizabeth W. Powers

+1 212 259 8662

Linda E. Ransom

+1 212 259 6570

K. Oliver Rust

+1 212 259 8571

J. Anthony Terrell

+1 212 259 7070

This memorandum is intended only as a general discussion of these issues. It is not considered to be legal advice. We would be pleased to provide additional details or advice about specific situations. For additional information on this important topic, please feel free to call upon your Dewey & LeBoeuf relationship partner. No part of this publication may be reproduced, in whole or in part, in any form, without our prior written consent. For further information on Dewey & LeBoeuf, please visit www.dl.com. +1 888 532 6383