Tesla (TSLA) has secured a clearance from the US Securities and Exchange Commission over its proposed Issuer Voluntary Retail Voting Program, according to a SEC letter on Tuesday.

The letter from the Division of Corporation Finance of SEC's Office of Mergers and Acquisitions said it will not recommend enforcement action if Tesla implements the program.

The program includes for shareholders to continue to receive all proxy materials and for participating shareholders to be able to override their Standing Instruction at no cost, the letter said.

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