SEC Shifts Focus with New Regulatory Agenda
WASHINGTON D.C. – September 4, 2025 – The Securities and Exchange Commission (SEC) today unveiled its latest regulatory agenda, signaling a shift in priorities toward innovation, capital formation, market efficiency, and investor protection. The agenda, formally known as the Regulatory adaptability Agenda (Reg Flex Agenda), outlines the SEC’s rulemaking priorities and estimated timelines.
SEC Chair Paul S. Atkins stated the agenda “reflects that it is indeed a new day at the [SEC].” He further noted the agenda represents a withdrawal of items from the prior administration that “do not align with the goal that regulation should be smart, effective, and appropriately tailored within the confines of our statutory authority.”
Currently in the “pre-rule” stage, the SEC is revisiting the definition of a Foreign Private Issuer (“FPI“) following public comment solicited through a recent concept release. No specific timeframe is attached to this review.
Several topics were omitted from the agenda, including cybersecurity – the subject of a rulemaking petition submitted by various financial industry groups – as well as human capital management and board diversity, which were under discussion during the previous administration.
While the agenda lists a timeframe for action on proposed rules as April 2026, the SEC cautions that these are estimates and do not guarantee a specific timeline for completion or implementation.
The alert was authored by Maia Gez, Scott Levi, Melinda Anderson, and Danielle Herrick of the White & Case Public Company Advisory Group.
