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On April 4, the Texas Stock Exchange's (TXSE) Form 1 application for registration as a national securities exchange was publicly released by the U.S. Securities and Exchange Commission (SEC). The application contains a wealth...more
The NYSE American stock exchange requires a listed company to obtain shareholder approval prior to issuing shares pursuant to (i) stock-based compensation plans, (ii) certain acquisitions and change of control transactions,...more
In January 2025, the Securities and Exchange Commission (the Commission) approved amendments to the minimum bid price compliance rules for companies listed on the New York Stock Exchange (NYSE) and the Nasdaq Stock Market...more
Our latest guides for NYSE and Nasdaq take-private deals offer useful insights and legal frameworks....more
As a follow-up to our prior discussion in this area, this article addresses a recent exemption issued to the New York Stock Exchange ("NYSE") by the Securities and Exchange Commission ("SEC") that allows for increased trading...more
In January 2025, the Securities and Exchange Commission (SEC) approved rule changes proposed by the New York Stock Exchange (NYSE) and NYSE American that impact companies utilizing reverse stock splits to regain compliance...more
On February 12, 2025, the New York Stock Exchange (NYSE) announced plans to launch NYSE Texas, a fully electronic equities exchange based in Dallas, Texas, through the reincorporation and renaming of NYSE Chicago. This...more
In January 2025, The New York Stock Exchange (NYSE) adopted an amendment (the “Amendment”) to the reverse stock split rules and procedures in Section 802.01C of the NYSE Listed Company Manual (the “NYSE Manual”). The...more
n January 2025, the U.S. Securities and Exchange Commission (SEC) approved amendments, both of which are now effective, to The Nasdaq Stock Market LLC (Nasdaq) and The New York Stock Exchange (NYSE) listing rules that will...more
Introduction - Issuers listed on the Nasdaq Stock Market and the New York Stock Exchange (NYSE) often conduct reverse stock splits to maintain compliance with each exchange’s US$1.00 minimum share price requirement. A reverse...more
Companies should not minimize the extent of a material cybersecurity incident by omitting material facts regarding the scope and potential impact of the incident. Cybersecurity risk factor disclosures should be tailored to a...more
In a recent enforcement action, the SEC concluded that the relationship between James Craigie and an officer of Church & Dwight Co. fatally undermined Craigie’s status as an “independent director” of the company under New...more
In October last year, the NYSE proposed, like Nasdaq, to take on the challenge of repeated reverse stock splits by limiting the circumstances under which a listed company could use a reverse stock split to regain compliance...more
This edition of the Bermuda Public Companies Update summarises significant transactions involving Bermuda companies listed on the New York Stock Exchange and Nasdaq in the second half of 2024. Global Market Update - In...more
After various legal battles over the past four years, a recent en banc decision by the Fifth Circuit Court of Appeals vacated the Securities and Exchange Commission’s (SEC) approval of the Nasdaq board diversity proposal,...more
On December 30, 2024, President Biden issued an Executive Order closing all executive departments and agencies of the federal government on January 9, 2025, in observance of a national day of mourning for former President...more
The SEC’s settlement with James R. Craigie, former CEO, chairman, and director of Church & Dwight Co. Inc., for violating proxy disclosure rules by standing for election as an independent director without disclosing his close...more
This edition of the Public Company Watch highlights critical updates and regulatory changes affecting public companies. Staying informed on these topics is crucial for effective compliance and strategic planning. Highlights...more
On December 11, 2024, the Fifth Circuit Court of Appeals held that the Securities and Exchange Commission (SEC) does not have the authority to approve Nasdaq’s board diversity disclosure rules. As a result, Nasdaq-listed...more
In 2010, the so-called “Flash Crash” of the U.S. stock market brought the overlooked practice of high-frequency trading into the spotlight for the first time. Initial efforts to study and curtail the practice, including a...more
The Cayman Islands is the most common non-US jurisdiction for listed entities - Entities established in 47 different jurisdictions are currently listed on the NYSE and Nasdaq. Of these different jurisdictions, outside of...more
There is a growing trend for large UK-based companies to consider exploring listings on US stock exchanges such as the New York Stock Exchange (NYSE) and NASDAQ, potentially at the expense of the London Stock Exchange plc...more
On October 7, 2024, the Securities and Exchange Commission (SEC) approved a rule change proposed by The Nasdaq Stock Market LLC that impacts companies utilizing reverse stock splits to regain compliance with Nasdaq’s minimum...more
Nasdaq Adopts Rules Modifying Delisting Process for Securities Failing to Maintain Compliance with Minimum Bid Price Requirement - As we previously reported, in August of 2024 the Nasdaq Stock Market LLC (“Nasdaq”)...more
Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more