Corporate & Securities Blog

On August 14, 2026, the SEC’s Division of Corporation Finance (the “Division”) announced it will no longer respond to any no-action requests from companies seeking to exclude shareholder proposals from their proxy materials under Exchange Act Rule 14a-8. The announcement follows the Division’s November 2025 decision to temporarily suspend most no-action requests for the 2025 – 2026 proxy season. What was an initial scale-back has now become a permanent change, effective immediately and until further notice.

On May 4, 2026, the SEC took the first step toward undoing its dormant 2024 climate-related disclosure rules, submitting a proposed recission to the White House’s Office of Information and Regulatory Affairs (OIRA) for review.

After months of speculation, the SEC on May 5, 2026 announced a rule proposal that would give public companies the option of reporting earnings results every six months instead of every three—eschewing a decades-long requirement under federal securities laws.

On October 26, 2025, the Chief Revenue Officer of Snowflake Inc. appeared to overstep the bounds of Regulation Fair Disclosure (“Reg FD”) when he made statements regarding Snowflake’s future financial results during an impromptu interview posted by a social media influencer (@theschoolofhardknockz). The Chief Revenue Officer’s statements indicated Snowflake would exit the fiscal year with “probably just over $4.5 billion”, which was approximately $100 million more in additional revenue compared to the company’s guidance released in August.

Reg FD is ...

On October 22, 2024, the Securities and Exchange Commission charged four companies with making materially misleading disclosures about their cybersecurity risks. Each of the companies—Unisys Corp., Avaya Holdings Corp., Check Point Software Technologies Ltd., and Mimecast Limited—agreed to pay hefty monetary penalties to settle the SEC’s charges.

The fines follow a lengthy investigation by the SEC into public companies affected by the 2020 SolarWinds breach, one of the most widespread cyberattacks to date. The attack, largely believed to have been carried out by ...

The SEC released a statement from Division of Corporation Finance Director Erik Gerding on June 24, 2024 reflecting Gerding’s opening remarks and the matters discussed on a panel addressing the Division's Disclosure Review Program during the April 2024 SEC Speaks Conference in Washington, DC. The statement provides a comprehensive overview of recent developments in the Division and observations gleaned from the review of filings.

On April 5, 2024, a jury in Federal Court in California found that the SEC established that Defendant Matthew Panuwat was liable under a civil misappropriation theory of insider trading violations of Section 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5. Panuwat formerly worked at a biopharmaceutical firm, Medivation, and bought call options in the biopharmaceutical firm Incyte minutes after learning that Medivation was to be acquired at a significant premium. When the Medivation transaction was announced, Incyte’s stock price increased and Panuwat sold his Incyte investment at a significant profit.

The U.S. Securities and Exchange Commission announced on April 4, 2024 that it is voluntarily delaying the
implementation of its climate disclosure regulations while it fights an Eighth Circuit Court challenge seeking
to vacate the rules.

On March 15, 2024, the U.S. Court of Appeals for the Fifth Circuit issued a stay of the Securities and Exchange Commission’s new climate-disclosure rules, which were adopted March 6.

On February 28, 2024, the SEC announced it will consider final rules for climate-related disclosures on March 6, 2024. A link to the announcement and agenda is here.