On September 28, 2026, in a response to a request from Goldman Sachs, the SEC’s Division of Corporation Finance issued a no-action letter stating that it would not recommend enforcement action related to Exchange Act Rules 14a-3(a), 14a-4(d)(2), 14a-4(d)(3), 14a-4(f) or 14a-12(a) if the company implements its proposed retail voting…
The SEC has issued a proposing release titled “Proxy Solicitation Modernization.” If adopted, the proposed amendments would eliminate certain annual report delivery and exempt solicitation filing requirements, remove a 20-business-day delivery period for certain proxy statements and prospectuses, shorten the minimum broker-search period, and require contact information on proxy statement…
The SEC has issued a proposing release titled “Rescission of Rule 14a-8’s Federal Regulation of Shareholder Proposals and Amendments to Rule 14a-4.” If adopted, these proposed amendments would rescind Rule 14a-8, which permits eligible shareholders to include certain proposals in a company’s proxy statement, and expand the ability of a…
At the end of August 2026, the SEC submitted three significant rulemaking projects to the Office of Information and Regulatory Affairs (OIRA) that would impact public companies and capital raising. OIRA updated its dashboard to indicate that these rulemakings are now subject to OIRA review. While OIRA has up to…
On September 2, 2026, the staff of the Securities and Exchange Commission’s Division of Corporation Finance issued three new Exchange Act Sections 13(d) and 13(g) and Regulation 13D-G Beneficial Ownership Reporting Corporation Finance Interpretations (CFIs) addressing when shareholder engagement will not, standing alone, cause an investor to lose its eligibility…
On August 14, 2026, the SEC’s Division of Corporation Finance announced that it would discontinue responding to Rule 14a-8 no-action requests entirely, including those submitted under Rule 14a-8(i)(1), unless and until the Division announces otherwise. The Division also indicates that will no longer respond to notices filed under Rule 14a-8(j)…
On July 16, 2026, the SEC proposed new Regulation E-Delivery, which would permit covered entities to use electronic media as the default method for delivery of offering documents, company reports, shareholder communications, and other materials under SEC rules if they elect to do so. Under the proposed rules, no prior affirmative consent…
On July 9, 2026, the Staff of the SEC’s Division of Corporation Finance issued six new Corporation Finance Interpretations (CFIs), including Exchange Act Sections 13(d) and 13(g) and Regulation 13D-G Beneficial Ownership Reporting CFIs 105.08, 105.09, 105.10, 110.09 and 110.10, and Proxy Rules and Schedules 14A/14C CFI 155.02. The new…
The Texas Stock Exchange (TXSE) commenced quoting and trading securities pursuant to unlisted trading privileges on July 6, 2026, and the new national securities exchange intends to commence trading of other securities on the exchange in the coming weeks. The TXSE published a trading launch schedule identifying securities that will…
On July 7, 2026, SEC Chair Paul Atkins issued a statement on the Commission’s 2026 Regulatory Agenda. In the statement, Atkins said the SEC is focused on investor protection, capital formation, and market efficiency, and that the agenda is intended to reflect current market realities. Several items on the agenda…