Part 2 of 3. Working draft for discussion. Comments are due November 20, 2026 (File No. S7-2026-32). See Part 1. This part sets out the legal objections in my working draft letter on the SEC’s proposal to rescind Rule 14a-8. The proposal is published at 91 FR 59904 (Sept. 21, 2026) (PDF). Page citations below […]
The SEC has proposed to Rescind Rule 14a-8 would be one of the most consequential changes to shareholder rights in generations. Complete rescission of Rule 14a-8, woiuld repeal the federal rule that has allowed qualifying shareholders to place proposals in company proxy materials for more than 80 years. Under Release No. 34-106383, File No. S7-2026-32, […]