Anticipating Chairman Paul Atkins Spring 2026 Agenda for the Securities and Exchange Commission
Old posts with current relevance
Bloomberg reports that SEC CHairman Paul Atkins has an ambitious plan for Spring 2026, which includes:
Semi-Annual Reporting
The SEC is prioritizing a potential move from quarterly financial reporting to twice-per-year reporting after a securities exchange petitioned the agency in late September. …
The European Union, United Kingdom, and Japan have operated with semiannual reporting requirements for years. Many companies in those jurisdictions still choose to release quarterly reports to investors.
We addressed the merits of semi-annual reporting in a series of three posts in September 2025:
Should We Eliminate Quarterly Earnings Reports (Or, At Least, Make Them Optional)? Part 1
The WSJ today reported that:
Should We Eliminate Quarterly Earnings Reports (Or, At Least, Make Them Optional)? Part 2
In the prior post, I discussed President Trump’s renewed call for the SEC to eliminate mandatory quarterly earnings reports. In that post, I discussed whether quarterly earnings reporting increases the pressure for managers to focus on short-term performance.
Should We Eliminate Quarterly Earnings Reports (Or, At Least, Make Them Optional)? Part 3
Prompted by President Trump’s renewed call for the SEC to eliminate mandatory quarterly earnings reports, I’ve been blogging about the case for doing so.
Shareholder Proposals
The agency is expected to release plans for “shareholder proposal modernization” by April, an attempt to “reduce compliance burdens” for public companies, according to its regulatory agenda. Trump then took it a step further in his December executive order that instructed Atkins to consider revising or rescinding all rules and guidance related to shareholder proposals.
We’ve talked about shareholder proposals and potential SEC revisions of the current rule in many posts:
Paul Atkins' SEC Rejects Gary Gensler's Plan to Encourage Shareholder Proposals
In a series of notices between 2022 and 2023, the then Democrat majority at the SEC pushed through on party line 3-2 party votes multiple rulemaking proposals that the new Republican majority SEC yesterday announced it was withdrawing. In one fell swoop, new Chairman Paul Atkins thus gutted what remained of former Chairman Gary Gensler’s regulatory agenda.
Shareholder Proposals and the "Significance"/"Relevance" Test
The Securities and Exchange Commission’s Rule 14a-8 gives shareholders the right to submit proposals to be included in a company’s proxy materials. But that right is not unlimited. Among the key exclusions available to companies is Rule 14a-8(i)(5), known as the
Securities and Exchange Commission Getting Out of the No Action Letter Business re Shareholder Proposals
SEC Rule 14a-8 allows qualifying shareholders to offer a proposal to be put to a vote at the company’s annual shareholder meeting. The issuer must include the proposal and a supporting statement from the proponent in the company’s proxy statement and include it on the company’s proxy card.
SEC Chair Paul Atkins Continues His Focus on Reforming SEC Rule 14a-8 (the Shareholder Proposal Rule): Part I
Bloomberg reports that Securities and Exchange Commission Chairman Paul Atkins announced Thursday that the agency will reconsider SEC Rule 14a-8, which mandating companies to include qualified shareholder proposals in their proxy statements.
SEC Chair Paul Atkins Continues His Focus on Reforming SEC Rule 14a-8 (The Shareholder Proposal Rule): Part II
Speaking at the University of Delaware, SEC Chairman Paul Atkins criticized the “politicization of shareholder meetings,” specifically taking aim at shareholder proposals driven by environmental, social, and governance (ESG) concerns:
Executive Compensation
Atkins has zeroed in on companies’ yearly 10-K reports and annual meeting proxy statements, saying they’ve become too long. He’s pointed to 10-K disclosures on risks facing companies, as well as proxy statement reporting on pay for chief executive officers, chief financial officers, and other highly compensated executives.
The SEC in 2025 held a public discussion on executive compensation disclosures, with an Exxon Mobil Corp. official urging the agency to simplify reporting.
We covered potential SEC changes to compensation disclosure in multiple posts:
Revisiting SEC Executive Compensation Rules
Delighted to have had this opportunity to discuss SEC Chairman Paul Atkin’s reform agenda with respect to executive compensation disclosure with two expert practitioners.
The Future of SEC Executive Compensation Disclosure: Reform, Relevance, and Investor Impact
Delighted to have had this opportunity to discuss SEC Chairman Paul Atkin’s reform agenda with respect to executive compensation disclosure with two expert practitioners. This post is the second of a three part series.
Executive Perks and SEC Disclosure: Outdated Rules in a Modern World
Delighted to have had this opportunity to discuss SEC Chairman Paul Atkin’s reform agenda with respect to executive compensation disclosure with two expert practitioners. This post is the last of a three part series.Bainbridge on Corporations is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Looking Ahead
We expect to cover all of these and other SEC reforms as they move forward.
