SEC Regulatory Agenda Published

In July, the Office of Information and Regulatory Affairs (OIRA) published the Securities and Exchange Commission’s (SEC) 2026 Regulatory Agenda. The agenda, which each federal agency submits at least annually to OIRA, includes a list of rules in either the pre-rule, proposed, or final stage.

Of note to independent fund directors, the SEC is examining proposed rules on updating proxy rules, electronic delivery, enhancing retail exposure to private markets, and cross-trading securities with affiliates. Other areas of interest include cryptocurrency infrastructure reforms (ex. transfer agency, custody, etc.), amending the definition of an accredited investor, rationalizing disclosure practices for corporate filers, and reforms surrounding off-channel communications. While the Commission may not achieve every item on the disclosed list, it does provide a window into the Commission’s priorities and potential rulemaking.

In a statement, SEC Chair Paul Atkins noted “Exposure to the full dynamism of our markets – both public and private – should not be reserved for wealthy insiders.” Chair Atkins added that the agenda includes proposals that help retail investors gain access to private markets typically reserved for wealthier investors while also observing standards of investor protection. He emphasized that the Commission is moving forward with the Trump Administration’s “goal to ensure that the United States is the crypto capital of the world, we are embracing innovation to bring more products onshore, creating clear rules of the road for capital raising with crypto assets, and providing clarity as to how market participants can custody and facilitate trading of tokenized securities onchain.”

Click here to view the SEC’s 2026 Regulatory Agenda.

Click here to read Chair Atkin’s statement on the 2026 Regulatory Flex Agenda.