Securities Law Update – November 5, 2025

By: David A. Bell , Ran Ben-Tzur , Amanda L. Rose , Wendy Grasso

Welcome to the latest edition of Fenwick’s Securities Law Update. This issue contains updates and important reminders on:

  • Risk Factor and Management’s Discussion and Analysis considerations for upcoming Form 10-Q filings
  • SEC relief for automatically effective registration statements during the government shutdown
  • The future of shareholder precatory proposals
  • The Texas Stock Exchange receiving SEC approval to operate as a national securities exchange
  • Other matters of interest including enhancements to Glass Lewis business model, ISS request for comments on voting policy, California climate disclosure laws, ExxonMobil retail voting program, and scrutiny of ESG-influenced investing by ERISA plans