On May 20, 2026, the U.S. Securities and Exchange Commission issued an exemptive order relieving directors and officers of certain foreign private issuers (FPIs) from the Section 16(a) reporting requirements of the Securities Exchange Act of 1934 (Exchange Act). Building
Known Trends
Wilson Sonsini’s Public Company Blog
Known Trends, published by Wilson Sonsini Goodrich & Rosati, covers developments in corporate governance, securities regulation, and compliance with evolving regulatory frameworks. The blog addresses topics such as sustainability reporting directives, corporate sustainability due diligence, shareholder meeting policies, and SEC filing requirements. It also discusses regulatory updates from bodies like the California Air Resources Board and provides insights into governance surveys and policy guideline changes affecting public companies and investors. The content is aimed at helping companies and legal professionals navigate complex regulatory landscapes, including ESG considerations, shareholder rights, and corporate disclosure obligations.
Latest from Known Trends - Page 2
SEC Proposes Significant Reforms to Filer Status and Registered Offering Frameworks
On May 19, 2026, the U.S. Securities and Exchange Commission (SEC) proposed two significant rulemakings: 1) Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies (Filer Status Proposal) and 2) Registered Offering Reform (Registered Offering…
SEC Issues Semiannual Reporting Proposal
On May 5, 2026, the U.S. Securities and Exchange Commission (SEC) announced that it issued proposed rule and form amendments that would give public companies the option to move away from quarterly reporting toward a semiannual reporting model. The following…
Climate-Related Disclosure Rules Update: SEC Submits Rescission Proposal to OIRA for Review
On May 4, 2026, the U.S. Securities and Exchange Commission (SEC) submitted a proposed rulemaking titled Rescission of Climate‑Related Disclosure Rules to the Office of Information and Regulatory Affairs (OIRA) for review. This submission marks the first formal step toward…
SEC Permits Accelerated Offering Period for Certain Tender Offers
Our recent Client Alert discusses the Exemptive Order issued by the Division of Corporation Finance of the Securities and Exchange Commission on April 16, 2026, which provides flexibility to shorten the minimum offering period for certain types of equity tender…
New SEC Staff Guidance Brings Welcome Certainty to ATM Offerings
On March 19, 2026, the SEC’s Division of Corporation Finance issued new Corporation Finance Interpretation 116.26, providing guidance for issuers conducting at-the-market offerings (ATMs) under Form S-3. The interpretation addresses the scenario where a company launches an ATM while…
SEC Gives Enforcement Relief to Section 16 Persons of Foreign Private Issuers in War-Affected Middle East
On Friday, March 13, 2026, the SEC staff granted no-action relief to directors and officers of any foreign private issuer with a class of equity securities registered under Exchange Act Section 12 that is organized and headquartered in Israel or…
CFTC Turns Up the Spotlight on Prediction Markets
On March 12, 2026, the Commodity Futures Trading Commission (CFTC) took steps to further the regulation of prediction markets. The CFTC’s Division of Market Oversight issued a staff advisory to provide its views on the listing and trading of event…
SEC Gives Enforcement Relief to Section 16 Persons of Foreign Private Issuers—and Domestic Issuers—If They Are Unable to Timely File Because They Cannot Obtain EDGAR Codes in Time
On March 12, 2026, the SEC staff issued two new FAQs related to the Holding Foreign Insiders Accountable Act (HFIA Act). The FAQs noted the HFIA Act requirements are resulting in an unusually large number of EDGAR access applications, which…
Section 16(a) Reporting by FPI Directors and Officers: Exemptive Order and Guidance
Our recent Client Alert discusses the exemptive order issued by the SEC on March 5, 2026, exempting directors and officers of certain foreign private issuers (FPIs) from Section 16(a) filing requirements. Subject to specified conditions, the order identifies Canada, Chile,…