The SEC has not demonstrated that repealing Rule 14a-8 would produce greater benefits than the current system or a revised rule, and the SEC should withdraw its proposal to repeal, argue John Coates, John C. Coffee, Jr., James D. Cox, Merritt B. Fox and Joel Seligman in an article in Columbia Law School’s Blue Sky Blog.

The comptrollers of New York State and New York City sent letters to Anthropic CEO Dario Amodei urging him to reform the company’s governance before launching its much anticipated IPO.

This quarter CII's accomplishments included:

Urging the SEC To Preserve Executive Compensation Disclosures and Auditor Attestation at Public Companies;
Opposing SEC Plans to Rescind Climate Disclosure Rules
Weighing In on PCAOB’s Standard-Setting Agenda
Urging SEC Not to Approve Texas Stock Exchange’s Plans to Require Brokers to Vote Uninstructed Shares
Opposing SEC's Proposal to Rescind Reg NMS Provision on Best Price Execution
Defending Shareholders’ Voices in Capital Markets Following Historic SEC Move
Offering PCAOB Recommendations for Implementation of Strategic Plan
Appointing Glenn Davis as Executive Director
Opposing NYSE Proposal to Give Newly Listed Companies Four More Years to Establish Internal Audit Function
Pushing SEC to Prioritize Clear Disclosure, Improvements to Proxy Plumbing
Urging SEC Not to Repeal Trade-Through Rule
Publishing Updated Members-Only Guide on Securities Litigation

Actions at the SEC this quarter included:
Small Business Advisory Committee Supported Proposed Changes to Quarterly Reporting, Filer Status
Allowed Franklin Templeton’s Registered Funds to Invest in Blockchain-Based Fund, Prompting Discussion of Custodians’ Future Role
Considered Changes to Pay-to-Play Rules
Provided More Guidance on Schedule 13D Filing Requirements
Proposed Rules that Would Tear Down Federal Role in Shareholder Proposals
Proposed More Changes Restricting Shareholder Expression, Loosening Requirements on Proxy Material Distribution

Governance news from Capitol Hill this quarter included:
House Bill Would Deliver Class-Level Transparency on Proxy Votes Introduced
House Committee Passed Bill to Terminate PCAOB
Legislation Introduced to Bar Mandatory Arbitration Agreements
Senators Pressed Atkins to Investigate Trump’s Plans to Provide Early Access to Truth Social Posts for a Fee
Lawmakers Pushed for Investigation into Proxy Advisors
Senate Hearing Explored How to Expand Capital Markets