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	<title>The Harvard Law School Forum on Corporate Governance</title>
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	<title>Securities Law Update &#8211; The Harvard Law School Forum on Corporate Governance</title>
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		<title>Securities Law Update</title>
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		<pubDate>Sat, 15 Nov 2025 12:30:00 +0000</pubDate>
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		<description><![CDATA[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 [&#8230;]]]></description>
				<content:encoded><![CDATA[<hgroup><em>Posted by Amanda Rose, David Bell, and Ran Ben-Tzur, Fenwick & West LLP, on Saturday, November 15, 2025 </em><div class='e_n' style='background:#F8F8F8;padding:10px;margin-top:5px;margin-bottom:10px;text-indent:2.5em;'><strong style='margin-left:-2.5em;'>Editor's Note: </strong> <p style="margin:0; display:inline;"><a href="https://www.fenwick.com/people/amanda-l-rose" target="_blank" rel="nofollow noopener" data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=https://www.fenwick.com/people/amanda-l-rose&amp;source=gmail&amp;ust=1754763041105000&amp;usg=AOvVaw1U_8xdm8HkKE1dtn2b3kVg">Amanda Rose</a>, <a href="https://www.fenwick.com/people/david-a-bell" target="_blank" rel="nofollow noopener" data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=https://www.fenwick.com/people/david-a-bell&amp;source=gmail&amp;ust=1754763041104000&amp;usg=AOvVaw1ME5hP7XZr6n4wEx122Rz8">David Bell</a>, and <a href="https://www.fenwick.com/people/ran-ben-tzur" target="_blank" rel="nofollow noopener" data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=https://www.fenwick.com/people/ran-ben-tzur&amp;source=gmail&amp;ust=1754763041104000&amp;usg=AOvVaw1jw90abg5OUIaj4vz1U-u4">Ran Ben-Tzur</a> are Partners at Fenwick &amp; West LLP. This post is based on a Fenwick memorandum by Ms. Rose, Mr. Bell, Mr. Ben-Tzur, and <a href="https://www.fenwick.com/people/wendy-grasso" target="_blank" rel="nofollow noopener" data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=https://www.fenwick.com/people/wendy-grasso&amp;source=gmail&amp;ust=1754763041105000&amp;usg=AOvVaw0trrVT5792tGftB638IXVT">Wendy Grasso</a>.</p>
</div></hgroup><p>Welcome to the latest edition of Fenwick’s Securities Law Update. This issue contains updates and important reminders on:</p>
<ul>
<li>Risk Factor and Management’s Discussion and Analysis considerations for upcoming Form 10-Q filings</li>
<li>SEC relief for automatically effective registration statements during the government shutdown</li>
<li>The future of shareholder precatory proposals</li>
<li>The Texas Stock Exchange receiving SEC approval to operate as a national securities exchange</li>
<li>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</li>
</ul>
<p> <a href="https://corpgov.law.harvard.edu/2025/11/15/securities-law-update-3/#more-177672" class="more-link"><span aria-label="Continue reading Securities Law Update">(more&hellip;)</span></a></p>
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