Worldwide: Securities

In recent remarks on April 28, 2026 at the Small Business Capital Formation Advisory Committee, Paul S. Atkins, Chairman of the U.S. Securities and Exchange Commission (SEC), discussed the current IPO market and how the SEC’s regulatory posture has shaped decision-making for companies. Chairman Atkins argued that “decades of accretive rulemaking…have made the path to becoming a public company narrower” and have similarly had a detrimental effect on the ability to remain a public company.

The Securities and Exchange Commission (SEC) has raised the dollar thresholds for “qualified client” status under Rule 205-3 of the Investment Advisers Act of 1940 (Advisers Act).

As the SEC pursues sweeping deregulatory reforms under Chairman Paul Atkins—including potential shifts to semiannual reporting and reduced executive compensation disclosures—institutional and activist investors...

The SEC has proposed allowing public companies to choose between filing semiannual reports or continuing with quarterly filings, potentially reducing compliance costs by approximately $198,000 annually.

Recent federal court decisions on shareholder proposals reveal fundamental tensions in applying Rule 14a-8's "ordinary business" exclusion, with three cases reaching seemingly different conclusions despite using the same legal framework. These divergent outcomes expose the rule's inherent ambiguity and may accelerate the SEC's anticipated reform or rescission of the shareholder proposal regime.

Proskauer partner Nathan Schuur explores the expanding role of artificial intelligence in investment firm operations beyond the investment process itself. The discussion addresses critical legal and practical considerations including privilege, accuracy, data security, books-and-records obligations, and Regulation S-P compliance. Schuur emphasizes that existing fiduciary and regulatory frameworks already govern AI use and advocates for thoughtful adoption and supervision of these emerging tools.

In March 2026, the Investment Company Institute (“ICI”) published a survey analyzing the escalating costs and challenges of proxy campaigns for U.S. registered investment funds, finding that the U.S. fund proxy system is both inefficient and ineffective.

The SEC has released a comprehensive proposal that could reshape regulatory frameworks and compliance requirements. This document outlines significant changes that may impact financial institutions, public companies, and market participants. Understanding the full scope of these proposed rules is essential for stakeholders preparing for potential regulatory shifts.

The Securities and Exchange Commission (SEC) has formally initiated the process of withdrawing its 2024 climate-risk disclosure regulation (“The Enhancement and Standardization of Climate-Related Disclosures...