The Division of Corporation Finance (the Division) of the Securities and Exchange Commission (SEC) announced its complete exit from the shareholder proposal review process and formally signaled its intention to rescind Exchange Act Rule 14a-8.
On August 14, 2026, the Division issued an Updated Statement regarding the Division’s role in the Rule 14a-8 process
On August 18, 2026, the Securities and Exchange Commission (SEC) proposed Regulation Crypto Assets, a new registration-exempt offering framework designed specifically for crypto assets. The proposal would create two exemptions from Securities Act registration; a conditional safe harbor under which a crypto asset would no longer be treated as a security; and preemption of
The Securities and Exchange Commission (SEC) signaled that it will likely move forward this year with a proposal to loosen the so-called “Pay-to-Play Rule” in Rule 206(4)-5 of the Investment Advisers Act of 1940 intending to restrict investment advisers from obtaining business from public pension plans or other government entities in exchange for political contributions
By Scott Gootee, Eric Mikkelson & Andrew Arbuckle
On July 21, 2026, the Securities and Exchange Commission (SEC) published proposed Regulation E-Delivery, a sweeping overhaul of the framework governing how issuers, broker-dealers, investment advisers and other SEC registrants deliver required disclosures to investors. If adopted, the rule would replace the SEC’s decades-old, guidance-based approach
By Scott Gootee & Andrew Arbuckle
On June 4, 2026, the U.S. Supreme Court unanimously held that the Securities and Exchange Commission (SEC) is not required to prove investors suffered pecuniary loss before seeking disgorgement of ill-gotten gains. The decision in Sripetch v. Securities & Exchange Commission, 146 S. Ct. 1403 (2026) resolves a
By Phil McKnight, Eric Mikkelson & Andrew Arbuckle
The DOL’s Proposed Safe Harbor and What It Means for Asset Managers, Advisers, and Plan Sponsors
On March 30, 2026, the U.S. Department of Labor (DOL) released a proposed rule titled “Fiduciary Duties in Selecting Designated Investment Alternatives” (the Proposed Rule), which would establish a process-based safe