SEC Publishes Updated Fall 2024 Reg-Flex Agenda

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The U.S. Securities and Exchange Commission (SEC) recently published its Fall 2024 Reg-Flex Agenda. The SEC updated the anticipated timing of the following rules:

Rule Topic Fall 2024 Agenda Spring 2024 Agenda
14a-8 - Final Rule October 2025 April 2025
Human Capital Management - Proposed Rule October 2025 October 2024
Board Diversity - Proposed Rule October 2025 April 2025
Regulation D - Proposed Rule October 2025 April 2025
Definition of Securities Held of Record - Proposed Rule October 2025 April 2025
Rule 144 Holding Period - Proposed Rule October 2025 April 2025

Note that the SEC developed the Fall 2024 Reg-Flex Agenda prior to the U.S. presidential election. Given the new presidential administration and turnover at the SEC, we expect the Spring 2025 agenda to be significantly different. In particular, the SEC may decide not to release its proposed rule on board diversity after the U.S. Court of Appeals for the Fifth Circuit struck down the Nasdaq board diversity disclosure rules, holding that the SEC Commission (SEC) lacked the statutory authority under the Exchange Act to approve the rules. 

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. Attorney Advertising.

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