U.S. SEC Chairman Atkins reviews IPO reforms, crypto framework and proposed repeal of shareholder proposal rule

In remarks to the Economic Club of Dallas, U.S. Securities and Exchange Commission (SEC) Chairman Atkins reviewed existing initiatives to reduce public company burdens, establish a framework for digital assets and return shareholder proposal decisions to states. The public markets proposals would let companies choose semiannual rather than quarterly reporting, reform registered offerings and align disclosure obligations more closely with company size and maturity. A separate proposal would rescind the SEC’s climate disclosure rule. Atkins reported that more than 580 companies went public from the beginning of 2025 through the first half of 2026, raising USD 208 billion, without announcing a new measure in the speech. On digital assets, Atkins reiterated the position articulated through Project Crypto that most crypto assets are not themselves securities. Regulation Crypto Assets, proposed in August, would create tailored pathways for crypto businesses to raise capital. The already approved Innovation Exemption permits certain trading of tokenized securities through a conditional framework. Approved on September 17, it provides an exemption lasting five years for qualifying tokenized stock venues, with conditions including volume limits and preservation of the underlying securities’ rights. On corporate governance, the proposed rescission of Rule 14a-8 would leave decisions about which matters qualify for shareholder votes to the company’s state of incorporation. Atkins argued that the SEC lacks authority to determine those matters without specific congressional authorization.