The SEC was busy in the weeks before the holiday season, taking several significant actions.\u00a0 Here is a summary you can use to explore each development.<\/p>\n
Latest Reg Flex Agenda<\/strong><\/p>\n The SEC published its latest regulatory agenda, which you can review here<\/a>.\u00a0 Key issues to be addressed in the near-term include climate change and human capital resources disclosures.\u00a0 Cybersecurity risk governance is also on the agenda.<\/p>\n Proposed New Rules for 10b5-1 Plans<\/strong><\/p>\n On December 15, 2021, the SEC proposed amendments<\/a> to Rule 10b5-1 to \u201cstrengthen the affirmative defense to insider trading\u201d provided by the rule.\u00a0 Details are in this related Fact Sheet<\/a> and the Proposed Rule<\/a>.\u00a0 One significant change would be a 120-day cooling-off period before trading could begin under a plan.<\/p>\n Proposed New Rules and Disclosures for Stock Buybacks<\/strong><\/p>\n On December 15, 2021, the SEC proposed amendments<\/a> to its rules requiring disclosure about repurchases of equity securities.\u00a0 You can read more in this Fact Sheet<\/a> and the Proposed Rule<\/a>.\u00a0 Companies would be required to provide a new Form SR before the end of the first business day following a buyback.\u00a0 In addition, periodic disclosures would include disclosure of the objective of share repurchases and any related process.<\/p>\n CorpFin Announcement <\/strong>\u2013 Personally Identifiable Information in Rule 14a-8 Submissions<\/strong><\/p>\n On December 17, 2021, CorpFin issued this Announcement<\/a> requiring companies to redact all personally identifiable and any other related sensitive information from Rule 14a-8 submissions related to shareholder proposals.\u00a0 The announcement also addresses how shareholder proponents should limit the amount of personally identifiable and sensitive information they include in correspondence to only information required to establish their eligibility to submit a proposal.<\/p>\n As always, your thoughts and comments are welcome!<\/p>\n","protected":false},"excerpt":{"rendered":" The SEC was busy in the weeks before the holiday season, taking several significant actions.\u00a0 Here is a summary you can use to explore each development. Latest Reg Flex Agenda The SEC published its latest regulatory agenda, which you can review here.\u00a0 Key issues to be addressed in the near-term include climate change and human … Continue reading A Busy Holiday Season at the SEC<\/span>