The End of an Era: SEC Proposes to Rescind Shareholder Proposal Rules and Modernize the Proxy Solicitation Process
On September 16, 2026, the Securities and Exchange Commission (the “SEC”) proposed two landmark rulemakings that would fundamentally change the shareholder proposal and engagement landscape. The first proposal would rescind Rule 14a-8 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and amend Exchange Act Rule 14a-4(c) accordingly. The second proposal is intended to modernize key aspects of the proxy solicitation process. In this Alert, we summarize the SEC’s proposed rule changes and their potential impact on public companies.
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Co-Head of Governance, Securities & Reporting Group
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