https://minutesof.com/sec-chair/ Paul Atkins: 76 verbatim quotes from 26 appearances on disclosure, regulation and crypto rules. Every quote timestamped and linked to its source. en Sun, 30 Aug 2026 16:23:18 +0000 https://minutesof.com/q/64194078-d452-41d3-b1bb-67648b7dc674/ https://minutesof.com/q/64194078-d452-41d3-b1bb-67648b7dc674/ “More than 20 years ago, the U.S. Court of Appeals for the District of Columbia Circuit vacated a rulemaking that would have mandated a board with no less than 75% independent directors and an independent chair as a condition to reliance on certain exemptive rules.” — SEC speeches and statements https://minutesof.com/q/ef8740b8-6545-43db-9d61-b1a68687cc79/ https://minutesof.com/q/ef8740b8-6545-43db-9d61-b1a68687cc79/ “mandatory clearing for U.S. Treasury cash transactions at the end of the year and U.S. Treasury repo transactions by June 30, 2027.” — SEC speeches and statements https://minutesof.com/q/fecb5e04-7a9c-40b9-a420-a72b500875f3/ https://minutesof.com/q/fecb5e04-7a9c-40b9-a420-a72b500875f3/ “By proposing to permit electronic delivery (e-delivery) to become the default method for issuers, market intermediaries, and others to communicate with investors, we are taking another stride toward a regulatory framework suitable for the modern era, a key pillar of my agenda.” — SEC speeches and statements https://minutesof.com/q/df578f15-54df-4ddc-8e29-f871312ae03b/ https://minutesof.com/q/df578f15-54df-4ddc-8e29-f871312ae03b/ “During my tenure, the Commission has achieved significant reductions in the annual operating costs of the Consolidated Audit Trail (“CAT”) and eliminated reporting of personally identifiable information to the CAT.” — SEC speeches and statements https://minutesof.com/q/3ce9ff4d-7724-4de5-9d72-c3c37dbd999b/ https://minutesof.com/q/3ce9ff4d-7724-4de5-9d72-c3c37dbd999b/ “Two new exemptions from registration under the Securities Act would be created for offerings of covered investment contracts: a “startup exemption” for up to $5 million over a four-year period, and a “fundraising exemption” permitting up to $75 million during each 12-month period.” — SEC speeches and statements https://minutesof.com/q/5bfe9dd4-9a57-4693-9919-68d189172c1e/ https://minutesof.com/q/5bfe9dd4-9a57-4693-9919-68d189172c1e/ “legislation remains indispensable to enacting “future-proofed” rules of the road that are durable enough to protect the work we are undertaking today from being unwound by a future rogue regulator.” — SEC speeches and statements https://minutesof.com/q/fca6b7c9-f718-4b26-8615-097c2ae73b33/ https://minutesof.com/q/fca6b7c9-f718-4b26-8615-097c2ae73b33/ “The court’s mandate has been clear since 2006, and updating the Code of Federal Regulations to reflect this outcome is long overdue.” — SEC speeches and statements https://minutesof.com/q/e7e22460-1bd5-4e8c-a36b-5adf0a9f4c72/ https://minutesof.com/q/e7e22460-1bd5-4e8c-a36b-5adf0a9f4c72/ “Having rules that are sensible, clear, and enforceable is key to a well-functioning society. People whose ambition is to build good things for other people can work with such rules, and government can enforce them.” — SEC speeches and statements https://minutesof.com/q/71fe1f5e-a2d0-4a77-a9a4-c1cd25d9a77f/ https://minutesof.com/q/71fe1f5e-a2d0-4a77-a9a4-c1cd25d9a77f/ “That the securities laws do not apply to all crypto assets and activities, however, does not mean that the securities laws do not apply to any crypto assets or activities.” — SEC speeches and statements https://minutesof.com/q/c1e9458d-6410-48d7-b958-2b6054401a04/ https://minutesof.com/q/c1e9458d-6410-48d7-b958-2b6054401a04/ “To deliver on President Trump’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,” — SEC speeches and statements https://minutesof.com/q/cebebd6d-b873-4cdf-8f3d-c5680346c771/ https://minutesof.com/q/cebebd6d-b873-4cdf-8f3d-c5680346c771/ “which bring our regulations into alignment with the Federal court’s vacatur of both the 75% requirement and the independent chair requirement. These amendments are a necessary step to reaffirm our commitment to sound regulatory principles.” — SEC speeches and statements https://minutesof.com/q/2d2dd233-8379-4cbe-8556-583f8fbad3e4/ https://minutesof.com/q/2d2dd233-8379-4cbe-8556-583f8fbad3e4/ “If you do headstands, backflips, and other gymnastics to read the law so that it does not apply to crypto assets and activities that are well within the scope of the federal securities laws, you will have a painful fall.” — SEC speeches and statements https://minutesof.com/q/c396cfa3-ce40-4241-9ecf-d7c4fa2dcb5a/ https://minutesof.com/q/c396cfa3-ce40-4241-9ecf-d7c4fa2dcb5a/ “During the decade of the 1990s, there were approximately 4,000 IPOs. In the 25 years since then, there have been only 3,200.” — SEC speeches and statements https://minutesof.com/q/6e2f849f-1f38-43d1-9159-811289ef5bb7/ https://minutesof.com/q/6e2f849f-1f38-43d1-9159-811289ef5bb7/ “I hope to see interactive and customized disclosures, something that is not possible with paper.” — SEC speeches and statements https://minutesof.com/q/f904787f-5bf5-446e-8b1c-71c74153fe56/ https://minutesof.com/q/f904787f-5bf5-446e-8b1c-71c74153fe56/ “In fact, in the past, it actively undermined capital formation with regard to this asset class in the form of regulation by enforcement and disingenuous offers to “come in and register.”” — SEC speeches and statements https://minutesof.com/q/6f3bd3f3-41bc-42fb-848a-a8b6a4f50075/ https://minutesof.com/q/6f3bd3f3-41bc-42fb-848a-a8b6a4f50075/ “the Commission is evaluating potential paths forward on both Notices, including an approach that would address—in a single Commission order—the relief requested in the IIB Notice and the relief requested in the SIFMA Notice concerning the outward facing condition.” — SEC speeches and statements https://minutesof.com/q/dcbf38d1-498b-4238-a8c6-cafbec4c0b65/ https://minutesof.com/q/dcbf38d1-498b-4238-a8c6-cafbec4c0b65/ “Default paper delivery results in a constant source of unnecessary expenses that are paid for by American investors and reduce their investment returns.” — SEC speeches and statements https://minutesof.com/q/55a1306a-c2f5-48f1-ae7e-312596ba058c/ https://minutesof.com/q/55a1306a-c2f5-48f1-ae7e-312596ba058c/ “Only individuals who have never been a certified public accountant are eligible to serve in this seat, which is for a term ending on October 24, 2031.” — SEC speeches and statements https://minutesof.com/q/a30e8109-cdcd-4234-9323-4ea6b9a52e33/ https://minutesof.com/q/a30e8109-cdcd-4234-9323-4ea6b9a52e33/ “The SEC still assumes and sometimes requires that firms, in the first instance, will design disclosures for viewing on paper (whether it is paper that firms mail or, now with Reg E-Delivery, paper that customers can print from home printers).” — SEC speeches and statements https://minutesof.com/q/86ee8ea9-ecc0-413a-9adf-00eb7f1c912d/ https://minutesof.com/q/86ee8ea9-ecc0-413a-9adf-00eb7f1c912d/ “benefits that “simply cannot be re-created privately.” 1 This morning, I would like to focus on the Commission’s recent efforts to extend those benefits to a broader range of issuers” — SEC speeches and statements https://minutesof.com/q/a1532266-e131-4ce8-830e-6e888bc021a0/ https://minutesof.com/q/a1532266-e131-4ce8-830e-6e888bc021a0/ “In an age of artificial intelligence and blockchain technology, a default to paper delivery should be a relic, not a standard.” — SEC speeches and statements https://minutesof.com/q/16789579-5d25-4c6c-bf3e-d250f056491d/ https://minutesof.com/q/16789579-5d25-4c6c-bf3e-d250f056491d/ “I strongly encourage applications from candidates interested in furthering the public interest through the efficient stewardship of PCAOB resources.” — SEC speeches and statements https://minutesof.com/q/06e78ef4-92e0-42a1-9311-81d27a53b575/ https://minutesof.com/q/06e78ef4-92e0-42a1-9311-81d27a53b575/ “If adopted, Regulation E-Delivery would establish requirements and conditions under which essential information could be delivered electronically to investors and others without first obtaining their affirmative consent to do so.” — SEC speeches and statements https://minutesof.com/q/ec445da3-71a3-4e77-af11-f524b8ac6f1d/ https://minutesof.com/q/ec445da3-71a3-4e77-af11-f524b8ac6f1d/ “Under the leadership of Chairman Atkins, the Commission is proposing and adopting rules that simplify registration and disclosure requirements and allow more companies to go public with fewer unnecessary regulatory hurdles.” — SEC speeches and statements https://minutesof.com/q/a4a98aa6-99cf-466f-82d1-50e3fbeb5098/ https://minutesof.com/q/a4a98aa6-99cf-466f-82d1-50e3fbeb5098/ “This agenda includes a number of proposals critical to realizing that mission by transforming our disclosure regime.” — SEC speeches and statements https://minutesof.com/q/13c3ffb7-f580-4f1b-8a3d-96892ea70243/ https://minutesof.com/q/13c3ffb7-f580-4f1b-8a3d-96892ea70243/ “The Commission’s approach to crypto in recent years—advancing untested legal theories through enforcement actions rather than rulemaking—deprived the public and market participants of the opportunity to have input into the development of workable rules.” — SEC speeches and statements https://minutesof.com/q/b29acf32-28bb-40ef-91bf-dc5879104e65/ https://minutesof.com/q/b29acf32-28bb-40ef-91bf-dc5879104e65/ “One theme emerges from the comment file: investors and market participants want the Commission to take more responsibility for managing and funding this project.” — SEC speeches and statements https://minutesof.com/q/7cb98614-d52f-45a9-a7dc-fc91a195e2d7/ https://minutesof.com/q/7cb98614-d52f-45a9-a7dc-fc91a195e2d7/ “The Commission last took a hard look at improving the capital formation environment more than two decades ago.” — SEC speeches and statements https://minutesof.com/q/4bc3eeab-e983-4975-a4cc-a88c8607d11b/ https://minutesof.com/q/4bc3eeab-e983-4975-a4cc-a88c8607d11b/ “Moving activities that fall within the scope of the federal securities laws onchain, as a general matter, does not take those activities outside the scope of the laws the Commission administers.” — SEC speeches and statements https://minutesof.com/q/b310ecf2-ef65-402a-99a3-9dfeb30d8440/ https://minutesof.com/q/b310ecf2-ef65-402a-99a3-9dfeb30d8440/ “Every IPO is an invitation to workers and savers to participate in the prosperity of the next generation of American enterprise.” — SEC speeches and statements https://minutesof.com/q/b4c259ad-474b-4b7c-8520-cc40ce13a385/ https://minutesof.com/q/b4c259ad-474b-4b7c-8520-cc40ce13a385/ “In May, the Commission proposed amendments that, if adopted, would allow public companies the option to file one semiannual report each year, in lieu of three quarterly reports.” — SEC speeches and statements https://minutesof.com/q/f8a7341a-8eba-48a6-b34c-e0688e1fcdb8/ https://minutesof.com/q/f8a7341a-8eba-48a6-b34c-e0688e1fcdb8/ “Other paper-as-the-standard disclosure rules talk about font size, relative prominence, and disclosures appearing on the same page.” — SEC speeches and statements https://minutesof.com/q/1d7dad19-e40a-4d87-811d-238c5d11f3e7/ https://minutesof.com/q/1d7dad19-e40a-4d87-811d-238c5d11f3e7/ “Labyrinthine restrictions on access to public markets unmoored from an investor protection rationale serve nobody.” — SEC speeches and statements https://minutesof.com/q/5d9d1d54-8a45-48e1-8e8f-8aaeac2224e2/ https://minutesof.com/q/5d9d1d54-8a45-48e1-8e8f-8aaeac2224e2/ “The framework we’re currently operating under mostly dates to 2005—before the iPhone had even been rolled out.” — SEC speeches and statements https://minutesof.com/q/46b2690d-6a3e-4239-9a20-21ba55002ed3/ https://minutesof.com/q/46b2690d-6a3e-4239-9a20-21ba55002ed3/ “Thus, it has driven investment offshore, limiting the type of protections that we can provide investors here, and sometimes resulting in investors watching their money completely disappear.” — SEC speeches and statements https://minutesof.com/q/3eb74eb9-244c-447b-9935-59492ae52f41/ https://minutesof.com/q/3eb74eb9-244c-447b-9935-59492ae52f41/ “It also will no longer respond to notices filed under Rule 14a-8(j) with a letter indicating that it will not object if a company omits a proposal from its proxy materials.” — SEC speeches and statements https://minutesof.com/q/a9bff0ea-99f6-43b0-94cb-1c2b1a278dbc/ https://minutesof.com/q/a9bff0ea-99f6-43b0-94cb-1c2b1a278dbc/ “I believe that it is critical for the Commission to move quickly and lay the groundwork necessary to restructure the CAT to address persistent cost, governance, and funding issues.” — SEC speeches and statements https://minutesof.com/q/6c080353-5efd-4211-b6e2-533c700afd89/ https://minutesof.com/q/6c080353-5efd-4211-b6e2-533c700afd89/ “This was distinguishable from politika —the governance of the polis , the city-state. Different rules, different purposes, different forms of accountability.” — SEC speeches and statements https://minutesof.com/q/9c383784-cb33-4e7b-86f0-caedc67a55ad/ https://minutesof.com/q/9c383784-cb33-4e7b-86f0-caedc67a55ad/ “The goal is not to cut for the sake of cutting but to cut requirements that do not yield proportionate benefits.” — SEC speeches and statements https://minutesof.com/q/cff348b0-4134-4dc2-b457-e928236fd9e6/ https://minutesof.com/q/cff348b0-4134-4dc2-b457-e928236fd9e6/ “the Commission takes a further step in recognizing these developments by proposing Regulation E-Delivery (“Reg E-Delivery”).” — SEC speeches and statements https://minutesof.com/q/8eb78888-a46e-4363-a366-08afa7d019b0/ https://minutesof.com/q/8eb78888-a46e-4363-a366-08afa7d019b0/ “Exposure to the full dynamism of our markets – both public and private – should not be reserved for wealthy insiders.” — SEC speeches and statements https://minutesof.com/q/bb2d41d1-5a7d-4301-823c-782f4c15e9d6/ https://minutesof.com/q/bb2d41d1-5a7d-4301-823c-782f4c15e9d6/ “Regulation E-Delivery is not merely a proposed administrative adjustment; it represents a meaningful advancement toward aligning our rules with the needs of today’s markets.” — SEC speeches and statements https://minutesof.com/q/5247a50e-c245-4478-b7dd-79467a7c05d2/ https://minutesof.com/q/5247a50e-c245-4478-b7dd-79467a7c05d2/ “We have made it hard for firms to experiment with cellphone apps, streaming video, podcasts, virtual conference room presentations, and anything else that is not an e-delivered pdf.” — SEC speeches and statements https://minutesof.com/q/da14e90d-5846-49a4-b3ca-80093f6e602c/ https://minutesof.com/q/da14e90d-5846-49a4-b3ca-80093f6e602c/ “Even when a crypto asset was properly treated as a security, prospective issuers were provided no realistic way to comply with the Commission’s registration process.” — SEC speeches and statements https://minutesof.com/q/2e60d3e8-3867-43eb-90dd-b9a26067ac49/ https://minutesof.com/q/2e60d3e8-3867-43eb-90dd-b9a26067ac49/ “Our agenda includes a proposal to better facilitate retail investor participation in private markets while preserving their protection with appropriate safeguards.” — SEC speeches and statements https://minutesof.com/q/b86ce028-68f6-4715-a8f6-c5242fbc4ff8/ https://minutesof.com/q/b86ce028-68f6-4715-a8f6-c5242fbc4ff8/ “Because many of these actions would need to occur in tandem, the transition would likely not be complete until late 2027.” — SEC speeches and statements https://minutesof.com/q/bce53aeb-abec-4123-a172-3826cb30f884/ https://minutesof.com/q/bce53aeb-abec-4123-a172-3826cb30f884/ “Persons who sought to register their crypto offerings were often given a bureaucratic runaround with no resolution in sight.” — SEC speeches and statements https://minutesof.com/q/d2a5e10a-6582-4a4a-b7c2-e3dbd8f0961e/ https://minutesof.com/q/d2a5e10a-6582-4a4a-b7c2-e3dbd8f0961e/ “These entities would not be required to obtain affirmative consent from investors and other recipients, but investors still would be able to opt out of default e-delivery and receive paper copies of information upon request.” — SEC speeches and statements https://minutesof.com/q/17456051-b6f1-4f98-8ff0-7078c3cec7ea/ https://minutesof.com/q/17456051-b6f1-4f98-8ff0-7078c3cec7ea/ “In contrast, shareholder democracy is voluntary and proportionate to risk: influence corresponds to the amount of capital that an investor puts at stake.” — SEC speeches and statements https://minutesof.com/q/19c14653-2080-43a7-a025-b54f41505513/ https://minutesof.com/q/19c14653-2080-43a7-a025-b54f41505513/ “Those who tried to engage with the Commission in good faith found themselves facing subpoenas and litigation rather than answers.” — SEC speeches and statements https://minutesof.com/q/f5f462bb-060e-46c3-aea1-84d9f1c88dac/ https://minutesof.com/q/f5f462bb-060e-46c3-aea1-84d9f1c88dac/ “Today, the Commission proposes new fundraising pathways tailored for the unique characteristics of crypto assets being sold as part of investment contracts.” — SEC speeches and statements https://minutesof.com/q/0bbc6b19-33f0-438a-9f8c-48aa060c0810/ https://minutesof.com/q/0bbc6b19-33f0-438a-9f8c-48aa060c0810/ “Registered offering reform would expand the full availability of shelf registration to nearly all public companies — including the newest and the smallest—increasing the number of eligible companies by over 60 percent.” — SEC speeches and statements https://minutesof.com/q/d8bc5871-8a50-479b-a277-d86e953a37cc/ https://minutesof.com/q/d8bc5871-8a50-479b-a277-d86e953a37cc/ “Companies should submit those notices using the online Shareholder Proposal Form . In addition, the Division’s shareholder proposal email address is no longer functional.” — SEC speeches and statements https://minutesof.com/q/428d7584-d786-4c5d-9af6-2b2f403adb36/ https://minutesof.com/q/428d7584-d786-4c5d-9af6-2b2f403adb36/ “It is worth recognizing that the federal securities laws generally do not prescribe paper or mail as the required method of delivery for regulatory disclosures or reports.” — SEC speeches and statements https://minutesof.com/q/4c25789f-beaf-4578-9fd4-54c643febb19/ https://minutesof.com/q/4c25789f-beaf-4578-9fd4-54c643febb19/ “the Commission published an order granting conditional exemptive relief from the scope of the Treasury Clearing Rule to transactions cleared through “captive” clearing subsidiaries on behalf of private funds, as long as the subsidiary meets certain requirements.” — SEC speeches and statements https://minutesof.com/q/3f84b0ae-5b80-43e0-96a9-cef1da217814/ https://minutesof.com/q/3f84b0ae-5b80-43e0-96a9-cef1da217814/ “is a given disclosure obligation producing information to investors that materially changes the enterprise value of a company or its stock price?” — SEC speeches and statements https://minutesof.com/q/05b6b439-c2f0-4782-8c3d-1f7b6ac8490d/ https://minutesof.com/q/05b6b439-c2f0-4782-8c3d-1f7b6ac8490d/ “The startup exemption would permit offerings of up to $5 million during a four-year period.” — SEC speeches and statements https://minutesof.com/q/64f73752-44e5-4a6c-8371-3bbeb12dd72a/ https://minutesof.com/q/64f73752-44e5-4a6c-8371-3bbeb12dd72a/ “The proposed rules include two offering exemptions tailored for innovations in the crypto asset markets: a “startup exemption,” which would allow for offerings up to $5 million during a four-year period, and a “fundraising exemption” allowing for offerings of up to $75 million each year.” — SEC speeches and statements https://minutesof.com/q/34a442fd-e88c-4431-8070-f6a46de97560/ https://minutesof.com/q/34a442fd-e88c-4431-8070-f6a46de97560/ “For example, a firm could refuse customers who do not agree to e-delivery even though Reg E-Delivery requires firms to provide paper if a customer requests it.” — SEC speeches and statements https://minutesof.com/q/201ee8f2-5176-488f-95fc-3c0d3bcba577/ https://minutesof.com/q/201ee8f2-5176-488f-95fc-3c0d3bcba577/ “However, if the board is accountable to “everyone,” then it is effectively accountable to no one.” — SEC speeches and statements https://minutesof.com/q/fd4bd9bc-26b9-4321-b7a2-1e5ae01a064b/ https://minutesof.com/q/fd4bd9bc-26b9-4321-b7a2-1e5ae01a064b/ “The Office of Investor Research within the Commission’s Office of the Investor Advocate found that nearly 80% of U.S investors prefer some form of e-delivery for financial disclosure documents that do not include personal information, and also that a majority (approximately 63%) prefers some form of e-delivery even for documents that do include personal information.” — SEC speeches and statements https://minutesof.com/q/2d7ff229-90bf-44da-b069-9ba2f9e665fe/ https://minutesof.com/q/2d7ff229-90bf-44da-b069-9ba2f9e665fe/ “In addition to the startup and fundraising exemptions, the proposed rules would include a conditional safe harbor by which an issuer of an investment contract could delink a crypto asset from the investment contract with which it was once associated.” — SEC speeches and statements https://minutesof.com/q/2bff34d7-32c0-46d4-8f95-767330eeedfc/ https://minutesof.com/q/2bff34d7-32c0-46d4-8f95-767330eeedfc/ “This FAQ provided staff’s view that bilateral trading will remain an available option in certain instances when a clearing agency is not available to accept transactions in U.S. Treasury securities from its participants.” — SEC speeches and statements https://minutesof.com/q/16bd61aa-c1d6-458b-9dac-5a2e4f1f4004/ https://minutesof.com/q/16bd61aa-c1d6-458b-9dac-5a2e4f1f4004/ “Presented with a 40 percent decline in public companies over the past few decades, we are summoned not to create more complexity nor reinvent our mandate, but to restore it to its foundation: that is, disclosure of material information.” — SEC speeches and statements https://minutesof.com/q/9af15216-286e-471f-9f87-f657c47de86d/ https://minutesof.com/q/9af15216-286e-471f-9f87-f657c47de86d/ “Often a single line item does not look unreasonable in isolation. The cumulative effect is what pushes companies to stay private, or to leave the public markets.” — SEC speeches and statements https://minutesof.com/q/58e8e342-4b03-4a7f-b2ca-d3cf549baf46/ https://minutesof.com/q/58e8e342-4b03-4a7f-b2ca-d3cf549baf46/ “Delivering information via paper unless the investor affirmatively elects otherwise no longer reflects how the majority of investors prefer to receive information.” — SEC speeches and statements https://minutesof.com/q/06ae7d5d-2ee0-4ac1-9938-3958ec68f214/ https://minutesof.com/q/06ae7d5d-2ee0-4ac1-9938-3958ec68f214/ “A vault, for example, could be a common enterprise in which users invest money with a reasonable expectation of profits to be derived from the vault deployer’s and curator’s entrepreneurial or managerial efforts.” — SEC speeches and statements https://minutesof.com/q/359beec0-8c08-4ef2-959a-fe6debcfb9c9/ https://minutesof.com/q/359beec0-8c08-4ef2-959a-fe6debcfb9c9/ “I would particularly welcome thoughts on facilitating the ability of crypto assets to serve a role akin to equity to enable token holders to share in the growth and value of the enterprise that builds a crypto network.” — SEC speeches and statements https://minutesof.com/q/de07b618-fb96-4d25-93bb-0c1febeca9aa/ https://minutesof.com/q/de07b618-fb96-4d25-93bb-0c1febeca9aa/ “Companies with subpar governance structures face a higher cost of capital and a lower stock price.” — SEC speeches and statements https://minutesof.com/q/c05af49b-5422-4d49-b912-7c4e8cbf92d8/ https://minutesof.com/q/c05af49b-5422-4d49-b912-7c4e8cbf92d8/ “Finally, we proposed rescinding the prior Commission’s climate disclosure rules — which, I believe, exceeded the Commission’s statutory authority and abandoned the foundational principle that our disclosure rules should be rooted in materiality.” — SEC speeches and statements https://minutesof.com/q/6083b0c7-bcb1-4046-a177-6ef2221722ee/ https://minutesof.com/q/6083b0c7-bcb1-4046-a177-6ef2221722ee/ “I have said it many times before, and I will say it again: the SEC is a disclosure regulator, not a merit regulator.” — SEC speeches and statements https://minutesof.com/q/9844b125-3318-44db-825a-92d1a9f9724a/ https://minutesof.com/q/9844b125-3318-44db-825a-92d1a9f9724a/ “Or, said another way, materiality, as defined by the Supreme Court, is and has always been a concept inherently rooted in financial considerations.” — SEC speeches and statements https://minutesof.com/q/9daa647f-dbe3-4a3a-a81e-543b9156ff0c/ https://minutesof.com/q/9daa647f-dbe3-4a3a-a81e-543b9156ff0c/ “We welcome your thoughts on whether we need to modify our rules to accommodate vaults, onchain lending, or other innovations and how we can do so while still ensuring that investors are protected, markets are fair, orderly, and efficient, and capital formation is facilitated.” — SEC speeches and statements https://minutesof.com/q/181094fa-28d9-457c-95a0-6baf4cbd129e/ https://minutesof.com/q/181094fa-28d9-457c-95a0-6baf4cbd129e/ “As one law firm recently reported, “Despite the heightened drama of the 2026 shareholder proposal season…the year-over-year trends remained largely consistent with the prior year.”” — SEC speeches and statements https://minutesof.com/q/cb413b1b-102d-48a6-aea5-740b84af12fc/ https://minutesof.com/q/cb413b1b-102d-48a6-aea5-740b84af12fc/ “But my greatest takeaway is that the Commission staff’s interposition between companies and shareholder proponents is unnecessary to effectively and efficiently resolve whether shareholder proposals should be included in proxy statements.” — SEC speeches and statements https://minutesof.com/q/df2c838f-1319-41c6-9285-a3f16915a9c5/ https://minutesof.com/q/df2c838f-1319-41c6-9285-a3f16915a9c5/ “This past season, one —yes, one—individual was the sole or lead proponent for approximately 41 percent of the shareholder proposals that were voted upon.” — SEC speeches and statements