Why the SEC’s Paul Atkins is Praising This State: Texas Brief

Paul Atkins’ Texas Vision

SEC Chairman Paul Atkins gave Texas yesterday what amounted to a gold star for its business-friendly state, saying there’s “less politicization, abusive litigation, and overall drama” here than in Delaware. He wants it — and the SEC — to go even further.

In his speech at Texas A&M’s Corporate Law Symposium, Atkins pointed to SB 29 as a law that differentiates Texas. That law curbs lawsuits that use proxy disclosures for a “quick payout” and gives companies more flexibility in where and how they litigate claims.

Texas’ recent amendments “remind us that state corporate law, working ...