List of Rules To Be Reviewed Pursuant to the Regulatory Flexibility Act

Issuing agencies

Abstract

The Securities and Exchange Commission ("Commission") is publishing a list of rules to be reviewed pursuant to section 610 of the Regulatory Flexibility Act. The list is published to provide the public with notice that these rules are scheduled for review by the agency and to invite public comment on whether the rules should be continued without change, or should be amended or rescinded to minimize any significant economic impact of the rules upon a substantial number of small entities.

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<title>Federal Register, Volume 91 Issue 204 (Friday, October 23, 2026)</title>
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[Federal Register Volume 91, Number 204 (Friday, October 23, 2026)]
[Proposed Rules]
[Pages 66795-66796]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-21657]


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SECURITIES AND EXCHANGE COMMISSION

17 CFR Chapter II

[Release Nos. 33-11451; 34-106698; File No. S7-2026-37]


List of Rules To Be Reviewed Pursuant to the Regulatory 
Flexibility Act

AGENCY: Securities and Exchange Commission.

ACTION: Publication of list of rules scheduled for review.

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SUMMARY: The Securities and Exchange Commission (``Commission'') is 
publishing a list of rules to be reviewed pursuant to section 610 of 
the Regulatory Flexibility Act. The list is published to provide the 
public with notice that these rules are scheduled for review by the 
agency and to invite public comment on whether the rules should be 
continued without change, or should be amended or rescinded to minimize 
any significant economic impact of the rules upon a substantial number 
of small entities.

DATES: This release was published in the Federal Register on October 
23, 2026. Comments should be submitted by November 23, 2026.

[[Page 66796]]


ADDRESSES: Comments may be submitted by any of the following methods:

Electronic Comments

    <bullet> Use the Commission's internet comment form (<a href="https://www.sec.gov/comments/s7-2026-37/list-rules-be-reviewed-pursuant-regulatory-flexibility-act">https://www.sec.gov/comments/s7-2026-37/list-rules-be-reviewed-pursuant-regulatory-flexibility-act</a>); or
    <bullet> Send an email to <a href="/cdn-cgi/l/email-protection#c9bbbca5ace4aaa6a4a4aca7bdba89baacaae7aea6bf"><span class="__cf_email__" data-cfemail="99ebecf5fcb4faf6f4f4fcf7edead9eafcfab7fef6ef">[email&#160;protected]</span></a>. Please include 
File Number S7-2026-37 on the subject line.

Paper Comments

    <bullet> Send paper comments to Vanessa A. Countryman, Secretary, 
U.S. Securities and Exchange Commission, 100 F Street NE, Washington, 
DC 20549-1090.

All submissions should refer to File Number S7-2026-37. This file 
number should be included on the subject line if email is used. To help 
the Commission process and review your comments more efficiently, 
please use only one method of submission. The Commission will post all 
comments on the Commission's website (<a href="https://www.sec.gov/rules-regulations/public-comments/s7-2026-37">https://www.sec.gov/rules-regulations/public-comments/s7-2026-37</a>). Do not include personally 
identifiable information in submissions; you should submit only 
information that you wish to make available publicly. The Commission 
may redact in part or withhold entirely from publication submitted 
material that is obscene or subject to copyright protection.

FOR FURTHER INFORMATION CONTACT: Sandra Sojka, General Attorney, Office 
of the General Counsel, 202-551-4928.

SUPPLEMENTARY INFORMATION: The Regulatory Flexibility Act (``RFA''), 
codified at 5 U.S.C. 601 through 612, requires an agency to review its 
rules that have a significant economic impact upon a substantial number 
of small entities within 10 years of the publication of such rules as 
final rules. 5 U.S.C. 610(a). The purpose of the review is ``to 
determine whether such rules should be continued without change, or 
should be amended or rescinded . . . to minimize any significant 
economic impact of the rules upon a substantial number of such small 
entities.'' 5 U.S.C. 610(a). The RFA sets forth specific considerations 
that must be addressed in the review of each rule:
    <bullet> The continued need for the rule;
    <bullet> The nature of complaints or comments received concerning 
the rule from the public;
    <bullet> The complexity of the rule;
    <bullet> The extent to which the rule overlaps, duplicates or 
conflicts with other Federal rules, and, to the extent feasible, with 
state and local governmental rules; and
    <bullet> The length of time since the rule has been evaluated or 
the degree to which technology, economic conditions, or other factors 
have changed in the area affected by the rule. 5 U.S.C. 610(b).
    The list below includes rules adopted in 2017 that may have a 
significant economic impact on a substantial number of small entities 
(but excludes rules that have been substantially changed since 
adoption, rules that are minor amendments to previously adopted rules, 
and rules that are ministerial, procedural, or technical in nature). 
Where the Commission has previously made a determination of a rule's 
impact on small businesses, the determination is noted on the list.
    The Commission particularly solicits public comment on whether the 
rules in the release listed below affect small businesses in new or 
different ways than when first adopted. The release listed below is 
scheduled for review by staff of the Commission.
    Title: Exhibit Hyperlinks and HTML Format.
    Citation: 17 CFR 229.601, 17 CFR 232.11, 17 CFR 232.102, 17 CFR 
232.105, 17 CFR 239.40, 17 CFR 249.20f.

    Authority: 15 U.S.C. 77c, 77e, 77f, 77g, 77h, 77j, 77k, 77s, 
77s(a), 77z-2, 77z-3, 77aa(25), 77aa(26), 77ddd, 77eee, 77ggg, 
77hhh, 77iii, 77jjj, 77nnn, 77sss, 77sss(a), 78a et seq., 78c, 
78c(b), 78i, 78j, 78j-3, 78l, 78m, 78n, 78n-1, 78o, 78o(d), 78o-7 
note, 78u-5, 78w, 78w(a), 78ll, 78 mm, 80a-2(a), 80a-3, 80a-6(c), 
80a-8, 80a-9, 80a-10, 80a-13, 80a-20, 80a-24, 80a-26, 80a-29, 80a-
30, 80a-31(c), 80a-37, 80a-38(a), 80a-39, 80b-11; 7201 et seq.; 12 
U.S.C. 5461 et seq.; 18 U.S.C. 1350; Sec. 953(b) Pub. L. 111-203, 
124 Stat. 1904; Sec. 102(a)(3) Pub. L. 112-106, 126 Stat. 309 
(2012); Sec. 107 Pub. L. 112-106, 126 Stat. 313 (2012); Sec. 71003 
and Sec. 84001, Pub. L. 114-94, 129 Stat. 1312; and Sec. 72001 Pub. 
L. 114-94, 129 Stat. 1312 (2015), unless otherwise noted.
    Description: The Commission adopted amendments to require 
registrants that file registration statements and reports subject to 
the exhibit requirements under Item 601 of Regulation S-K, or that file 
Forms F-10 or 20-F, to include a hyperlink to each exhibit listed in 
the exhibit index of these filings. To enable the inclusion of such 
hyperlinks, the amendments also require that registrants submit all 
such filings in HyperText Markup Language (``HTML'') format.
    Prior RFA Analysis: When the Commission adopted the amendments on 
March 1, 2017, it published a Final Regulatory Flexibility Analysis in 
the adopting releases, Release Nos. 33-10322; 34-80132, available at: 
<a href="https://www.govinfo.gov/content/pkg/FR-2017-03-17/pdf/2017-04365.pdf">https://www.govinfo.gov/content/pkg/FR-2017-03-17/pdf/2017-04365.pdf</a>. 
The Commission solicited comment on the Initial Regulatory Flexibility 
Analysis published in the proposing releases, Release Nos. 33-10201, 
34-78737 (Sept. 12, 2016), available at: <a href="https://www.govinfo.gov/content/pkg/FR-2016-09-12/pdf/2016-21313.pdf">https://www.govinfo.gov/content/pkg/FR-2016-09-12/pdf/2016-21313.pdf</a>, and considered comments 
received at that time.

    By the Commission.

    Dated: October 20, 2026.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2026-21657 Filed 10-22-26; 8:45 am]
BILLING CODE 8011-01-P


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