Founded in 1969, NIRI is the professional association of corporate officers and investor relations consultants responsible for communication among corporate management, shareholders, securities analysts and other financial community constituents. The largest professional investor relations association in the world, NIRI’s more than 4,000 members represent 2,000 publicly held companies and $5.4 trillion in stock market capitalization.

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IR - A Very NIRI Year in Review

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IR - A Very NIRI Year in Review

Snow is not uncommon in D.C., but snow in excess of 12 inches from one storm is very unusual. The storm over this past weekend delivered up to 22 inches of snow, making it the largest December snowstorm in D.C.’s history. Congress working late into the evening and on weekends is almost as unusual. During the past few weeks, the Senate has been working all hours, including through a crippling snowstorm, to reach agreement on a healthcare bill before the holiday recess, creating a very rare sight in Washington. It appears they have been successful, and the Senate will vote on Christmas Eve on healthcare reform. The real challenge will be reconciling the House and Senate bills in early 2010. However, for IR professionals, the healthcare debate keeps financial reform legislation on a much slower track in Congress and I, for one, am fine with that.

This morning, NIRI members received an Executive Alert regarding the SEC’s new Proxy Disclosure Enhancements rules. I urge all IR professionals to read and understand these new SEC rules and to be part of the discussion in your organization on the impact and implementation of these changes. As a critical touch point for investors, you should be prepared to answer questions about these new disclosures. NIRI’s Executive Alert will help you find the critical pages from the 129 page document and make your reading easier.

Since we are approaching the end of the year, I wanted to share with you a bit of personal reflection as I review my columns from the past year and pick the top stories for 2009. Here are my picks, in no order:

1. The recession and the impact on IR.
2. The SEC approves change to NYSE Rule 452 making director elections non-routine in all public companies.
3. NIRI and the Shareholder Communications Coalition are successful as the SEC agrees to evaluate overhauling proxy mechanics.
4. Social media expands as IR professionals move slowly forward integrating these new communication mediums into their IR toolkit.
5. The SEC approves new proxy disclosure enhancement rules.
6. The SEC moves to eliminate naked or abusive short selling by approving changes to Reg SHO as NIRI and others submit comments.
7. The SEC proposes changes to transparency for darkpools and other alternative trading systems.
8. NIRI celebrates our 40th anniversary of serving the IR profession.
9. The SEC moves to make changes to Notice and Access rules after much urging by many groups, including NIRI.
10. Congress and the Obama administration pursue financial oversight reform, including corporate governance changes such as proxy access.
11. The SEC reacts to the Madoff scandal by overhauling its enforcement area and increasing enforcement actions.
12. SEC provides additional Reg FD Compliance and Disclosure Interpretations.
13. NIRI Board meets with SEC to discuss, among other things, ownership transparency.
Forward-looking guidance practices continue to be a focus in 2009.

The list reminds me how important NIRI is in serving as your advocate on behalf of the IR profession in Washington and beyond. As I close for this week, on behalf of the Board and staff at NIRI, we want wish everyone a joyous holiday season!

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National Investor Relations Institute

IR - A Very NIRI Year in Review