The Society for Corporate Governance (Society) announced today that it submitted to Securities and Exchange Commission (SEC) Chair Paul Atkins targeted recommendations to modernize the Commission's filer categories and disclosure obligations, particularly for small- and mid-cap public companies.
NEW YORK, July 7, 2025 /PRNewswire-PRWeb/ -- The Society for Corporate Governance (Society) announced today that it submitted to Securities and Exchange Commission (SEC) Chair Paul Atkins targeted recommendations to modernize the Commission's filer categories and disclosure obligations, particularly for small- and mid-cap public companies.
Building on the Society's earlier communication welcoming Chair Atkins and sharing its policy priorities, the most recent letter outlines practical, market-informed reforms aimed at reducing unnecessary regulatory burdens while preserving investor protections and promoting healthy public markets. The proposals were developed by a working group of Society members and subject matter experts, ed by Julia Lapitskaya, Partner, Gibson Dunn; Maia Gez, Partner, White & Case; Ning Chiu, Partner, Davis Polk and Chair of the Society's Securities Law Committee; and Shawn Filippi, Chair of the Society's Small & Mid-Cap Companies Community.
"We all have an interest in supporting small- and mid-cap public companies, as they are a source of jobs, innovation, and investment opportunities for institutional and main street investors alike," said Paul Washington, President and CEO of the Society for Corporate Governance. "We believe our recommendations offer a practical path for the SEC to reduce unnecessary costs and complexity for smaller public companies — supporting their ability to access capital and thrive as public issuers."
The Society's letter recommends aligning and simplifying filer categories by creating two primary thresholds based on public float and annual revenue, and scaled disclosure obligations in areas such as financial reporting, proxy disclosures (including executive compensation), and Section 16 reporting. The proposals also address streamlining transition thresholds and modernizing rules that disproportionately burden smaller issuers without enhancing investor protection.
Randi Morrison, Chief Knowledge Officer and General Counsel of the Society, added: "This work reflects the best of what our Society community offers — experienced legal counsel and corporate governance professionals coming together to thoughtfully improve the regulatory environment for public companies and their shareholders. We're grateful to our working group leaders for their insight, rigor, and leadership on this important initiative."
The full letter and Appendix are available on the Society's. & | June 2025
About the Society for Corporate Governance
Founded in 1946, the Society is a professional membership association of more than 3,700 corporate and assistant secretaries, in-house counsel, outside counsel, and other governance professionals who serve more than 1,600 entities, including 1,000 public companies and private companies and non-for-profit organizations of almost every size and industry. Society members are responsible for supporting their boards of directors and executive management in matters such as board practices, compliance, regulation and legal matters, shareholder relations, subsidiary management and sustainability. Visit for more information.
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