SEC Policy Shift And Recent Corp Fin Updates–Part 3

Since the beginning of the year, the US Securities and Exchange Commission's (SEC) Division of Corporation Finance staff (Corp Fin Staff) has issued several important statements and interpretations, including a Staff Legal Bulletin on shareholder proposals and multiple new and revised Compliance and Disclosure Interpretations. Given the pace and importance of these recent changes, it is critical that public companies be aware of the significant policy shift at the Division of Corporation Finance and the substance of the updated statements and interpretations.

This is the third part of an ongoing series that will discuss recent guidance and announcements from the Corp Fin Staff. This installment will review the issuance of Staff Legal Bulletin No. 14M and what the policy changes brought by this new guidance may mean for shareholder proposals and more generally going forward.