Positive Progress in Washington, D.C.
After several days spent in Washington, D.C., last week, I can’t help but reflect on the productive conversations NIRI has had this year with our primary regulator and our representatives in Congress.
At the NIRI 2026 Annual Conference in June, I was honored to interview Securities and Exchange Commission (SEC) Chairman Paul Atkins, who was open and frank about the agency’s priorities. The most encouraging was his goal to increase the number of public companies – something we can all cheer for.
That conversation continued last week as part of NIRI’s Annual Legislative and Advocacy Fly-In. Your Board of Directors met with staff from several divisions at the SEC, including Division of Corporation Finance Director Jim Moloney. His open approach was refreshing and made for a productive discussion. We focused on three topics: creating a Public Company Advisory Committee, regulating proxy advisors, and reforming 13-F. Mr. Moloney’s key advice was to make our requests “durable” so they survive from one administration to the next. We are doing just that with the first two topics.
We were also honored to spend time with Commissioner Hester Peirce, who concluded her service at the Commission last Friday. She has always been generous with her time and advice to NIRI, and we were grateful for her parting guidance. In keeping with her longtime passion for crypto, she shared why public companies should embrace the pending tokenization of their securities. NIRI is following this topic closely.
On Capitol Hill, we visited the offices of ten representatives and asked for support on two bills. The first is a bipartisan bill to create a Public Company Advisory Committee at the SEC. It has cleared the House Financial Services Committee, and we hope to see it pass this year. The second is in the early drafting stages and would give the SEC regulatory authority over proxy advisory firms, which it does not have today. Both bills were well received by SEC staff.
It’s a busy time with semiannual reporting, 23/5 trading, and tokenization all on the horizon. Be sure to use NIRI’s resources on each topic. More updates will follow as these issues move forward.
Personally, one of my favorite things to do in D.C. is run along the Mall and take in the beauty of our nation’s capital. Thankfully, the weather was gorgeous, and I started a new tradition with the Hamilton soundtrack as my running partner. Taking it all in!
If you’ve never attended the Fly-In, I highly recommend it. It is interesting, informative, and important to our advocacy on the issues that matter to public companies. The “Hamilton Run” is optional.
Sincerely,
Remy
Remy Bernarda, IRC
NIRI Board Chair
remy@sageir.com