SEC says it will stop responding to no-action requests ‘entirely’
After sitting out the bulk of the no-action process in the 2025-26 proxy season, the SEC is now considering broader changes to the rule governing shareholder proposals.
After sitting out the bulk of the no-action process in the 2025-26 proxy season, the SEC is now considering broader changes to the rule governing shareholder proposals.
BELLINGS Intelligence Score: 65
Why it matters
The SEC's decision to stop responding entirely to no-action requests represents a significant regulatory shift that could materially affect shareholder proposal processes and market participant behavior, with broad implications for governance and compliance practices.