SEC Proposes Proxy Solicitation Modernization

On September 16, 2026, the SEC proposed amendments to modernize certain rules related to proxy solicitations. The proposed amendments would: (i) eliminate the annual report delivery requirement; (ii) eliminate the requirement to send the proxy statement at least 20 business days before the meeting date if it incorporates information by reference; (iii) eliminate the requirement to submit a notice regarding exempt solicitations; (iv) reduce the minimum broker search period from 20 business days to five business days; (v) require the inclusion of contact information on proxy and information statement cover pages; and (vi) revise various rules and forms to reflect such amendments, as well as to correct certain technical errors. Comments should be submitted on or before November 20, 2026.