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Constituent Voices May Influence SEC Reform

By Alexandra R. Lajoux

04/15/2026

Disclosure Regulation
Key Points
  • NACD members might support SEC reforms to update complex and "boilerplate" reporting in proxy statements and Form 10-K filings.
  • Many surveyed members favor narrowing the criteria and increasing ownership thresholds for shareholder proposals to reduce the volume of nonessential resolutions.
  • Nearly all responding members recognize the significant influence of proxy advisors and may support renewed SEC scrutiny to address this.

This AI-generated summary, based on content on this page, was reviewed by NACD editors for accuracy.

NACD members voiced their thoughts on SEC regulations in a recent survey. Their feedback, and that of other SEC constituents, may impact rules and reforms. 

As the US Securities and Exchange Commission (SEC) weighs the rationalization of disclosure practices and shareholder proposal modernization in 2026 and beyond, NACD gathered perspectives from the member community. A recent survey of NACD members focused on SEC reporting and disclosure requirements covered a range of issues from shareholder resolutions to compensation disclosures. NACD sent a summary of the results to Paul Atkins, chair of the SEC....

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Alexandra R. LajouxAlexandra R. Lajoux serves NACD as chief knowledge officer emeritus.

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