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Securities and Exchange Commission Chairman Paul Atkins visited the NAM last week to speak with NAM members about SEC policy initiatives, including efforts to promote IPOs and to modernize disclosure requirements.  

IPOs: Atkins talked about the need to ease disclosure burdens for newly public companies and smaller firms, a change that should encourage more manufacturers to go public and remain public. 

Nonfinancial disclosures: Atkins also discussed his goal to modernize Regulation S-K, the SEC regulation governing risk factors, executive compensation and other nonfinancial disclosures. 

• The NAM plans to submit recommendations for the overhaul of Regulation S-K, identifying areas to reduce regulatory burdens for publicly traded manufacturers. If you have suggestions, please contact NAM Senior Director of Corporate Finance Policy Ted Allen by March 16.  

Flexibility on financial reporting: Atkins discussed with NAM members whether public companies should have the option to report their financial results on a semiannual basis, instead of quarterly, as has been mandatory since the 1970s. President Trump suggested this reform in September, and Atkins has said the SEC is considering the idea.   

Shareholder proposals: Atkins also spoke with members about reducing the burdens on companies posed by the proliferation of shareholder proposals.  

• In November, the SEC discontinued  its historical role as an informal arbiter of disputes over whether particular proposals should be allowed to appear on corporate ballots. Companies seeking to exclude proposals may submit “an unqualified representation that the company has a reasonable basis” to omit the proposal, which the SEC will sign off on.   

Cybersecurity: NAM members raised concerns with the SEC’s 2023 cybersecurity rulemaking, asking Chairman Atkins for increased flexibility in the face of the rule’s rigid reporting requirements so that companies can better cooperate with law enforcement and national security agencies in the face of a cybersecurity breach. 

• The NAM asked the SEC in June 2025 to rescind the rule’s strict requirement for companies to report material cybersecurity incidents within four business days.

The last word:  “Chairman Atkins is committed to fostering economic growth and supporting manufacturing workers saving for retirement. Appreciate him visiting the NAM to discuss his work to expand economic opportunity and prosperity for American families,” said NAM President and CEO Jay Timmons following the event.