# Rescission of Rule 14a-8's Federal Regulation of Shareholder Proposals and Amendments to Rule 14a-4

**Action Urgency Score:** 80/100

| Field | Value |
|---|---|
| Agency | Securities and Exchange Commission |
| Type | Proposed rule |
| Action | Proposed rule. |
| Published | 2026-09-21 |
| Effective | 2026-09-21 |
| Comments close | 2026-11-20 |
| Significant | Yes (EO 12866) |
| CFR parts | 17 CFR 200, 17 CFR 229, 17 CFR 232, 17 CFR 240, 17 CFR 249 |
| Summary | The Securities and Exchange Commission ("Commission") is proposing to rescind Rule 14a-8 under the Securities Exchange Act of 1934 ("Exchange Act") and leave determinations about the role of shareholder proposals to State law and company governing documents. The Commission also is proposing to amend Rule 14a-4 under the Exchange Act to expand the circumstances under which a company may exercise, with respect to proxies it receives, discretionary voting authority on proposals that will be presented at a shareholder meeting but not included in the company's proxy materials. At the same time, the |
| Document number | 2026-19260 |

## Why this score
- Comment deadline within 30 days.
- Significant rule under EO 12866.

Source: Federal Register API (Office of the Federal Register) (https://www.federalregister.gov/documents/2026/09/21/2026-19260/rescission-of-rule-14a-8s-federal-regulation-of-shareholder-proposals-and-amendments-to-rule-14a-4). Last refreshed: 2026-11-04T09:17:43.641Z.
Data from the Federal Register API; the published Federal Register document is authoritative. Informational only, not legal advice.