On December 2, 2025, SEC Chairman Paul Atkins spoke at the New York Stock Exchange about the current state of U.S. capital markets, the challenges they face, and potential reforms to strengthen them. As the United States approaches its 250th anniversary, the Chairman highlighted the history of the markets and…
As we previously posted, on November 17, 2025, the SEC’s Division of Corporation Finance announced a significant change in how it will engage with shareholder proposal exclusions. Just two days later, on November 19, 2025, the Staff issued what appears to be the first public response letter under its revised…
In a Friday appearance on Fox Business, SEC Chairman Paul Atkins signaled that the Securities and Exchange Commission is increasingly focused on curbing the influence of proxy advisory firms. His comments follow reports that the Trump Administration is weighing an executive order aimed at limiting the role of firms such…
On June 30, 2025, the SEC staff struck the right balance with its no-action letter granting relief to BirchBioMed, Inc. from the requirement to file an annual report on Form 1-K under Regulation A. Notwithstanding that BirchBioMed, Inc. did not qualify for suspension under Rule 257(d) of Regulation A, the…
On June 21, 2025, the Governor of Texas signed Texas Senate Bill 2337 (“S.B. 2337”), Relating to the regulation of the provision of proxy advisory services, into law. S.B. 2337 imposes additional requirements on proxy advisors that provide proxy advisory services with respect to certain proposals made by companies that…
On March 20, 2025, the staff of the SEC’s Division of Corporation Finance issued revised Securities Act Forms C&DI Question 114.05 indicating that non-automatically effective registration statements on Form S-3 may now be filed and declared effective after an issuer has filed its Form 10-K but prior to filing its…
On December 11, 2024, the United States Court of Appeals for the Fifth Circuit vacated the Securities and Exchange Commission’s order related to the rule that required companies listed on Nasdaq to include a board diversity matrix in their proxy filing or on their website. Despite the Nasdaq board diversity matrix…
On February 20, 2025, the SEC announced the creation of the Cyber and Emerging Technologies Unit (CETU) “to focus on combatting cyber-related misconduct and to protect retail investors from bad actors in the emerging technologies space.” The CETU’s focus on protecting retail investors harkens back to similar SEC initiatives under former…
In January 2025, the Securities and Exchange Commission (SEC) approved rules proposed by the New York Stock Exchange and Nasdaq that permit the exchanges to accelerate the delisting process for companies that fail to maintain a $1 minimum share price. The SEC approvals follow a record 495 reverse splits enacted…
On February 11, 2025, Institutional Shareholder Services (ISS) announced, that, for shareholder meeting reports published on or after February 25, 2025, it will no longer consider the gender, racial, or ethnic diversity of a company’s board when making vote recommendations with respect to the election or re-election of directors at…