July 2026

• Several high-profile activism situations have dialed up the heat, and the rules of engagement are shifting.

• SEC Chairman Atkins previewed the next phase of shareholder proposal reform, framing it as a fight against the "tyranny of the minority."

• The SEC's broader reform agenda looms large, with plans to significantly scale back public company reporting obligations on track regardless of investor pushback.

• ISS is signaling, though not yet committing to, a rethink across a menu of issues. Its 2026 Global Benchmark Policy Survey (an early read on 2027 voting policy) includes questions on director tenure, reincorporations, and executive compensation.