"Spring 2024" Reg Flex Agenda is Up: Final Shareholder Proposal Rule Amendments on the Horizon?

It's that time of year again, the semi-annual posting of the SEC's Reg Flex Agenda. With election approaching, this fall and the highly discussed decision by the SCOTUS to overturn the Chevron doctrine (we'll be blogging on that next week), it's hard to predict how much of the anticipated rulemaking will actually happen.

SEC Chair Gary Gensler released a statement along with the agenda, underscoring the importance of SEC rulemaking to update rules to meet modern demands and ensure market resiliency.

As always, this agenda is only an estimate and does not guarantee rulemaking on the stated timeline. Below are the key items in the Corp Fin area, with just one major outstanding rule poised for final adoption, but once again pushed out to a later date:

1. Estimated Adoption of Final Rules: Shareholder Proposal Rule Amendments (April 2025)
2. Estimated Proposal of Rules:

• Human Capital Management Disclosure (October 2024)
• Regulation D/Form D Improvements (April 2025)
• Revised Definition for Securities "Held of Record" (April 2025)
• Board Diversity (April 2025)
• Rule 144 Holding Period (April 2025)