NIRI NOW
NIRI Members Advocate for IR on Capitol Hill and at the SEC
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IRI members and staff came together in September in Washington, DC for the 2023 NIRI
Legislative and Advocacy Fly-In to advo- cate on behalf of the investor relations profession and public companies. This annual event, representing the high point of NIRI’s advocacy year, is a unique opportunity for NIRI members to learn about the key legislative and regulatory issues relevant to the profes- sion and bring those issues directly to Capitol Hill and Securities and Exchange Commission (SEC) staff. A diverse group of nearly 40 members
representing a variety of industries, market caps, and geographic locations, including the NIRI Board of Directors and many chapter leaders, took a deep dive into NIRI’s legislative priorities, including a bill to establish an SEC Public Company
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Advisory Committee (H.R. 4652), improved shareholder transparency through Section 13(f) modernization, and SEC oversight of proxy advisory firms (H.R. 448). Members were organized into several
groups to meet with over a dozen staffers from the U.S. House of Representatives and Senate to educate them on the need for reform in these areas. Members then met with staff from the SEC Division of Corporation Finance, discussed Section 13(d) modernization, questions related to the SEC’s proposed climate change disclosure rule, Section 13(f) modernization, proxy advisory firm regulation, and NIRI’s proposed Public Company Advisory Committee. The event also featured a special
interactive dinner discussion with SEC Commissioner Hester Peirce on SEC priorities.
Participation in NIRI’s advocacy pro-
gram directly supports the NIRI mission to advance and elevate the professional practice of investor relations. On October 10, NIRI staff and mem- bers were pleased to learn that the SEC had adopted amendments to modernize Sections 13(d) and 13(g) of the Securities Exchange Act of 1934. Originally pro- posed in February 2022, the approved amendments shorten the filing deadlines for initial and amended beneficial own- ership reports filed on Schedules 13D and 13G. NIRI has worked to achieve improved shareholder transparency for more than a decade. NIRI appreciates the support of
everyone involved in this year’s Legislative and Advocacy Fly-in and wel- comes all interested members to partici- pate in its ongoing advocacy work. IR
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