The SEC is once again pushing back its anticipated timing for adopting final climate rules. The agency’s latest Reg Flex Agenda was just released, extending the timing for the climate disclosure rules among several other rulemakings that were pushed from this past April to October 2023:

  1. Climate Change Disclosure
  2. Cybersecurity Risk Governance
  3. Modernization of Beneficial Ownership Reporting
  4. Special Purpose Acquisition Companies

The Rule 14a-8 Amendments also continue to be slated for final rulemaking by October.

Key anticipated rules slated for initial proposal are also on the Agenda:

  1. Human Capital Management Disclosure (10/23)
  2. Regulation D and Form D Improvements (10/23)
  3. Definition of Securities Held of Record (10/23)
  4. Edgar Filer Validation and Access (10/23)
  5. Corporate Board Diversity (4/24)
  6. Rule 144 Holding Period (4/24)

As always, the Reg Flex Agenda is aspirational and it doesn’t mean that the SEC will take these actions by these possible dates (or that it wouldn’t take action sooner), which has been borne out time and time again…

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Photo of Allison Handy Allison Handy

Allison Handy is the firmwide co-chair of the Corporate & Securities practice. Her extensive experience includes advising public and private companies in connection with corporate governance practices, disclosure issues, and capital markets transactions, such as equity offerings, debt offerings and tender offers. She…

Allison Handy is the firmwide co-chair of the Corporate & Securities practice. Her extensive experience includes advising public and private companies in connection with corporate governance practices, disclosure issues, and capital markets transactions, such as equity offerings, debt offerings and tender offers. She is also a leader of the firm’s Environmental, Social, and Governance advisory team.

Allison provides counsel to companies on a broad range of issues faced by management and directors in connection with the many compliance aspects of securities laws, including governance rules adopted by the Securities and Exchange Commission (SEC) and stock exchanges. She advises boards and committees in matters related to internal investigations and the efforts of shareholder activists, and works closely with in-house counsel, financial personnel, and outside auditors and advisors to help her clients prepare proxy statements and other reports to investors that meet complex disclosure obligations.

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