News & Analysis as of

Listing Rules Stock Exchange

Latham & Watkins LLP

Saudi Exchange Publishes Guidelines for Offering and Listing of Foreign Companies

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The Saudi Exchange published its guideline manual for foreign companies offering and/or listing on its Main Market. While current capital markets regulations and rules in Saudi Arabia permit such offerings, the lack of a...more

BCLP

Takeover Panel Consultation on the Application of the Takeover Code

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A new Takeover Panel consultation proposes to narrow the scope of the companies subject to the Takeover Code (the “Code”). ...more

White & Case LLP

Ready to launch: US stock markets are poised for a strong 2024

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US IPO markets have been lackluster during the past 24 months, but, as interest rates stabilize and stock valuations recover, the backdrop for US IPOs in 2024 is improving - Despite high interest rates and geopolitical...more

White & Case LLP

Changes ahead: London market is ready for reform

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Along with other stock exchanges across the world, the London Stock Exchange (LSE) had a challenging 2023, recording only 23 new listings with a total value of less than US$1 billion. This represented a 23 percent...more

Latham & Watkins LLP

Italy Approves New Legislation to Support Listings on Euronext Milan

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The legislation aims to enhance the competitiveness of the Italian capital markets by introducing various reforms regarding the listing process and corporate governance. Listings on Euronext Milan are supported by Bill n....more

Skadden, Arps, Slate, Meagher & Flom LLP

FCA Preserves Key Tool for Activists in Listing Rules Reform

Activist shareholders had a busy 2023: The incidence of activist campaigns in Europe soared by almost 70% compared to 2022, according to data compiled by Skadden and Activistmonitor. As we described in a previous issue of The...more

BCLP

London: an Attractive IPO Venue for US Mid-Caps

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While the British media is currently focussed on a small number of large-cap companies, formerly listed in London, choosing to move their listings to New York, there is another story which is not so well publicised. Many...more

Wilson Sonsini Goodrich & Rosati

SEC Approves NYSE and Nasdaq Clawback-Related Listing Standards

On June 9, 2023, the U.S. Securities and Exchange Commission (SEC) published notices and orders granting accelerated approval of the amended clawback-related listing standards proposed by the New York Stock Exchange (NYSE)...more

Goodwin

Overhaul of the UK Listing Regime Continues - A Consideration of the FCA’s Most Recent Proposals Which Are Most Relevant to Growth...

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On 3 May 2023, the UK Financial Conduct Authority (the “FCA”) published significant further proposals in a consultation paper (CP23/10) for reforming the UK listing regime....more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Listing Rules Reform Proposals — The Dawn of a Lighter Touch Regime in London?

As part of the wider review of the UK’s capital markets regulatory landscape, the FCA published Consultation Paper CP23/10, which sets out reforms for companies with listed shares on the Main Market of the London Stock...more

Keating Muething & Klekamp PLL

SEC Extends Period to Act on Exchange Clawback Rules

On April 24, 2023, the Securities and Exchange Commission extended the time period to take action on proposed listing standards to implement the Dodd-Frank “Clawback Rules.” As discussed in a previous blog post, the SEC...more

BCLP

SEC approves executive officer incentive compensation clawback rules

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On October 26, 2022, the SEC – by a 3-2 vote – approved final rules directing the NYSE, Nasdaq and other stock exchanges to adopt requirements for listed companies to develop and implement clawback, or recovery, policies that...more

Walkers

TISE - Changes to Continuing Obligations

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Introduction - The International Stock Exchange (‘’TISE’’) has revised its Continuing Obligations (Chapter 3) Listing Rules, with effect from 1 July 2022. The changes are intended to make the requirements of the...more

Barnea Jaffa Lande & Co.

Foreign Funds from Additional Stock Exchanges May Dual List on the TASE

On February 22, the Israeli Ministry of Finance published a draft bill for public comments to amend the Joint Investment Trust Regulations (Foreign Fund Unit Offerings). These regulations regulate the listing of foreign funds...more

White & Case LLP

JFTC Report: Competition policy and antitrust law perspective on the initial public offering (IPO) pricing process

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On January 28, 2022, the Japan Fair Trade Commission ("JFTC") published a report "Understanding the reality of the public offering price setting process in the initial public offerings (IPOs)" ("Report"). The Report was...more

Stinson - Corporate & Securities Law Blog

A Guide to Public Companies and Bankruptcy

Many believe that economic disruptions caused by the COVID-19 pandemic will lead to increased bankruptcies.  If that is true, a portion of those bankruptcies would include public companies....more

Latham & Watkins LLP

Evolving Perspectives on Direct Listings after Spotify and Slack

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In a direct listing, a company's outstanding shares are listed on a stock exchange without a primary or secondary underwritten offering. Existing security holders become free to sell shares on the stock exchange at...more

Latham & Watkins LLP

Equity Derivatives 2019

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The past several years have witnessed the continuing growth of strategic equities as part of corporate finance advisory services for both listed issuers and their controlling shareholders. Strategic equities services offer a...more

Mayer Brown Free Writings + Perspectives

Nasdaq Direct Listing Rules

Consistent with the rule adopted by the New York Stock Exchange in 2018 in order to facilitate direct listings, the Securities and Exchange Commission recently approved a similar Nasdaq rule for the Nasdaq Global Select...more

Dechert LLP

Potential Regulatory Developments for Irish ETFs

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The Central Bank of Ireland (the “Central Bank”) has announced that it will release a feedback statement later this year in response to its 2017 Discussion Paper on ETFs (the “Discussion Paper”) and the general work it has...more

Benesch

SEC Proposes Rules Mandating Executive Compensation “Clawback” Policies

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On July 1, 2015, the Securities and Exchange Commission (the SEC) proposed new rules that would mandate U.S. stock exchanges to establish and enforce standards requiring listed companies to adopt compensation recovery...more

Allen Matkins

The SEC’s Unconvincing Case Against Indemnification

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The Securities and Exchange Commission’s proposed rules take a hard line against issuers indemnifying executives against clawbacks: We believe that indemnification arrangements may not be used to avoid or nullify the recovery...more

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