January 10, 2023
What Else is On the SEC Agenda?
As John noted last week, the SEC’s recently released Fall 2022 Reg Flex Agenda contemplates several significant final rule actions in the coming weeks of the first quarter of 2023, but it should also be noted that the SEC continues to list an extensive pipeline of potential proposed rules. The Corp Fin oriented proposals include:
Human Capital Management Disclosure (April 2023)
Regulation D and Form D Improvements (April 2023)
Revisions to the Definition of Securities Held of Record (April 2023)
Corporate Board Diversity (October 2023)
Disclosure of Payments by Resource Extraction Issuers (October 2023)
Rule 144 Holding Period (October 2023)
Amendments to Requirements for Filer Validation and Access to the EDGAR Filing System (October 2023)
The good news here is that there is not much new on this proposed rule list. Most of these proposals appeared in prior iterations of the Reg Flex Agenda and the Staff and Commissioners have discussed these rulemakings to some extent in the past. Further, in some cases, like the contemplated Rule 144 proposal and the rules regarding the disclosure of payments by resource extraction issuers, some level of rulemaking action has already occurred.
It is notable that three of these proposed rules are expected to be voted on by the Commission by April of this year, which is within the same timeframe that the SEC plans to adopt final rules on many of the most contentious rulemakings that remain on the SEC’s agenda.
– Dave Lynn