Securities Regulation and Corporate Governance Monitor

Editor

Gary R. DePalo

Associate Attorney

SEC Proposes to Eliminate Federal Shareholder Proposal Rule and Modernize Proxy Solicitation Process

The SEC seeks to eliminate the Rule 14a-8 shareholder proposal framework, reform the voting framework applicable to shareholder proposals submitted under state law, and modernize several aspects of the proxy solicitation process. On September 16, 2026, the Securities and Exchange Commission (SEC) issued two rule proposals[1] — one addressing the shareholder proposal rules (the Rule 14a-8…