News & Analysis as of

Listing Rules

Proskauer Rose LLP

New 20% Rule Offers Greater Clarity and Flexibility for Nasdaq-listed Companies

by Proskauer Rose LLP on

On September 26, 2018, the Securities and Exchange Commission approved The Nasdaq Stock Market LLC's proposal to modify the so-called "20% Rule" contained in Nasdaq Listing Rule 5635(d). The modified rule expands the...more

Dorsey & Whitney LLP

Private Equity and Venture Capital Pre-IPO Investments are now used by the Hong Kong Stock Exchange to Validate Pre-Revenue/Profit...

by Dorsey & Whitney LLP on

On April 30, 2018, the new listing regime published by The Stock Exchange of Hong Kong Limited (the “Exchange”) for companies from emerging and innovative sectors took effect. The new listing regime makes it possible for...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

U.S. Financial Industry Developments - SEC Disapproves the Listing and Trading of Nine Bitcoin Related Exchange Traded Products - On August 22, 2018, the SEC released three Orders, acting through authority delegated to...more

Mayer Brown Free Writings + Perspectives

SEC Action Deadline Extended on Nasdaq Shareholder Approval Rule Change

As we previously blogged, Nasdaq Stock Market LLC filed a proposed rule change with the Securities and Exchange Commission to change their listing requirements under Nasdaq Rule 5635(d), which relates to shareholder approval....more

Shearman & Sterling LLP

SEC Denies BZX Application to List Bitcoin Trust; Commissioner Peirce Dissents

by Shearman & Sterling LLP on

On July 26, 2018, the Securities and Exchange Commission (SEC) denied an application for a rule change that would have allowed the Bats BZX Exchange, Inc. to list and trade shares of the Winklevoss Bitcoin Trust, primarily...more

Shearman & Sterling LLP

Offering Securities in the Kingdom of Saudi Arabia

by Shearman & Sterling LLP on

On 31 December 2017, the Capital Market Authority (the “CMA”) published the Rules on the Offer of Securities and Continuing Obligations (“ROSCO”), which were approved by CMA Board Resolution No. 3-123-2017 dated 9/4/1439H...more

Dechert LLP

SEC Again Rejects Winklevoss Proposal for Bitcoin Exchange-Traded Product

by Dechert LLP on

The U.S. Securities and Exchange Commission on July 26, 2018 formally disapproved the proposed rule change by Bats BZX Exchange, Inc. (BZX) seeking to list and trade shares of the Winklevoss Bitcoin Trust (Trust). In...more

White & Case LLP

New Belgian Prospectus Law

by White & Case LLP on

Proportionate disclosure regime for small scale capital raisings and simplified regime for liability management exercises introduced. The New Prospectus Law has been published in the Belgian Official Gazette. The New...more

Jones Day

Hong Kong Exchange Publishes Conclusions on Delisting Consultation

by Jones Day on

The Situation: While a trading suspension gives an issuer an opportunity to remedy the underlying issues that led to the suspension with a view towards trading resumption, the absence of a mechanism under Hong Kong's current...more

Dechert LLP

SEC Proposes Rule to Allow Most ETFs to Operate without Exemptive Relief

by Dechert LLP on

The Securities and Exchange Commission is proposing to simplify and modernize the regulatory framework governing exchange-traded funds and enhance information to investors about the costs of purchasing ETF shares. If adopted,...more

Mayer Brown Free Writings + Perspectives

Debt Capital Markets in the United States: Regulatory Overview

In a recently published Practical Law Capital Markets Global Guide 2018 article, “Debt Capital Markets in the United States: Regulatory Overview,” Counsel Brian Hirshberg and Partners Anna Pinedo and Remmelt Reigersman...more

Mayer Brown Free Writings + Perspectives

Equity Capital Markets in the United States: Regulatory Overview

In a recently published Practical Law Capital Markets Global Guide 2018 article, “Equity Capital Markets in the United States: Regulatory Overview,” Counsel Brian Hirshberg and Partners Anna Pinedo and Remmelt Reigersman...more

Shearman & Sterling LLP

New Premium Listing Option in London for Sovereign Controlled Companies

by Shearman & Sterling LLP on

The client memorandum summarizes new rules issued by the U.K. regulator to create a new premium listing category for “sovereign controlled commercial companies” (SCCs). This new category will be available for listings of SCCs...more

Latham & Watkins LLP

Spotify Case Study: Structuring and Executing a Direct Listing

by Latham & Watkins LLP on

Spotify Technology S.A. went public on April 3, 2018 through a direct listing of its shares on the New York Stock Exchange. Key Points: ..A direct listing is an innovative structure that provides companies with an...more

Hogan Lovells

FCA welcomes sovereign controlled companies to its premium listing regime

by Hogan Lovells on

From 1 July 2018, sovereign controlled companies will be able to admit their securities to listing on a new dedicated category of the FCA's premium listing regime....more

Latham & Watkins LLP

FCA Rolls Out the Red Carpet for Sovereign Controlled Companies

by Latham & Watkins LLP on

The FCA has created a new category for sovereign controlled companies who will be eligible for premium listing if they comply with the requirements applicable to premium listed issuers, with some key exceptions. Further to...more

Latham & Watkins LLP

New Listing Rules for Sovereign Controlled Companies … In 30 Seconds

by Latham & Watkins LLP on

The Financial Conduct Authority has published final rules creating a new category within its premium listing regime for companies controlled by a shareholder that is a sovereign country. From 1 July, 2018, an issuer with a...more

White & Case LLP

Hong Kong’s New Listing Regime for Emerging and Innovative Companies

by White & Case LLP on

The Hong Kong Stock Exchange has amended its Listing Rules to allow listings of biotech companies that do not meet financial eligibility tests, high growth and innovative companies with weighted voting rights structures, and...more

Latham & Watkins LLP

New Hong Kong Dual-Class and Biotech Companies Listing Regime

by Latham & Watkins LLP on

Hong Kong Stock Exchange introduces new listing regime for pre-revenue biotech companies and innovative companies with weighted voting rights structures. Please see full Alert below for more information....more

Dechert LLP

Potential Regulatory Developments for Irish ETFs

by Dechert LLP on

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

Skadden, Arps, Slate, Meagher & Flom LLP

Hong Kong Publishes Groundbreaking New Rules for Dual-Class Shares, Emerging and Innovative Sectors

After publishing the “New Board Concept Paper” in December 2017, the Stock Exchange of Hong Kong Limited (the Exchange) issued a consultation paper on February 23, 2018, titled “A Listing Regime for Companies From Emerging...more

Dorsey & Whitney LLP

Hong Kong Offers New Capital Markets Opportunity for Life Sciences and Healthcare Companies

by Dorsey & Whitney LLP on

Historically, the US, and, in particular, the NASDAQ market, has been the predominant place for IPOs of life sciences and healthcare companies. However, 2018 may be the year in which things start to change....more

Hogan Lovells

New listing regime proposals for emerging and innovative companies

by Hogan Lovells on

On 23 February 2018, the Stock Exchange of Hong Kong Limited (the "HKEx") published a consultation paper seeking public comments on Listing Rules amendments aimed at expanding the listing regime to help list companies from...more

Jones Day

Hong Kong Exchange Publishes Draft Rules for Biotech Listings, Requests Comments

by Jones Day on

The Hong Kong Stock Exchange recently published a Consultation Paper on a Listing Regime for Companies from Emerging and Innovative Sectors, and proposed to introduce a new chapter implementing the listing of...more

Dentons

Stricter compliance measures for listed companies

by Dentons on

The Corporate Governance Council (the CG Council), through its recently issued consultation paper, has proposed amendments to the Singapore Code of Corporate Governance (the CG Code 2012) and the Listing Rules of the...more

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Updated: May 25, 2018:

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Privacy Officer
JD Supra, LLC
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Sausalito, California 94965

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Privacy Officer
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Updates to This Policy

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