The Securities and Exchange Commission declined to take a stand on Monday on a request from Hewlett-Packard to exclude from its proxy ballot a proposal from some shareholders that would give them more power to nominate directors. The decision by the S.E.C. to stay out of the conflict involving H.P. shows that, for now, regulators will have no response to a federal appeals court decision in September that raised questions about whether companies may continue to exclude certain types of shareholder proposals from proxy ballots.
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