In 2025, 145 companies have effectuated reverse stock splits. Both companies listed on Nasdaq and on the New York Stock Exchange (“NYSE”) often conduct reverse stock splits to comply with each exchange’s minimum share price...more
The Stock Exchange of Hong Kong Limited published on 24 January 2025 its Conclusions on Further Paperless Listing Reforms. The proposals adopted include, among others, that issuers are to: - provide securities holders...more
On March 12, 2025, the SEC approved a significant rule change to Nasdaq’s initial listing liquidity requirements (the New Liquidity Rules). These changes make it more challenging for companies seeking to list on the Nasdaq...more
On November 14, 2024, the EU Listing Act (the “Listing Act”) was published in the Official Journal of the European Union. The Listing Act entails a legislative package designed to improve capital markets access and enhance...more
On January 17, the US Securities and Exchange Commission (SEC) approved Nasdaq’s proposed rule changes addressing companies that fail to meet the minimum bid price requirements of $1 per share and the subsequent delisting...more
HKSE-listed companies must update constitutional documents to allow for hybrid meetings and e-voting under new rules - Companies must implement necessary changes by their first annual general meeting following July 1, 2025...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
The updates include market consultation, consultation conclusions and various guiding materials by the HKEX, and bills for amendments to the Companies Ordinance by the Hong Kong government....more
The Stock Exchange concluded to adopt the proposed amendments to the CG Code, with certain modifications based on market feedback....more
Last November, Nasdaq proposed a rule change that would lengthen the notification period for companies conducting reverse stock splits from five business days to 10 calendar days. The rule change became effective immediately...more
The updates include an information paper on implementing an uncertificated securities market, and a joint announcement on an enhanced timeframe for a new listing application process....more
Our Securities Group explores what companies need to know about the Securities and Exchange Commission’s approval of Nasdaq’s rule change on reverse splits and the minimum bid price compliance period....more
On October 7, 2024, the US Securities and Exchange Commission (SEC) approved a rule change proposed by The Nasdaq Stock Market LLC that affects companies utilizing reverse stock splits to regain compliance with Nasdaq’s...more
Fabry-Pérot Interferometer, SA is a highly successful non-US company known to the world as FPI. FPI is considering doing a debt or equity offering in the United States. What are the key legal issues it, and its underwriters...more
The SFC exercises its powers to order the suspension of trading in shares in a listed company to protect investors’ interests. On 15 April 2024, The Stock Exchange of Hong Kong Limited (SEHK) suspended trading in the...more
As 2023 ends, despite the visions of sugar plums dancing in your head, it is a good time to take stock of government initiatives affecting your Affirmative Action practice, the better to get ready for 2024. Many things...more
On November 30, 2023, FDA announced the availability of new resources for stakeholders to facilitate compliance with the Food Traceability Rule. Refresher on FDA’s Food Traceability Final Rule - FDA issued its Food...more
The Stock Exchange of Hong Kong Limited has recently published conclusions to their consultation launched last December on proposals to expand the paperless listing regime and other Listing Rule amendments. The key proposal...more
Companies that are listed on the Nasdaq Stock Market or the New York Stock Exchange are required to adopt a clawback policy that provides for the recovery from any current or former executive officers of incentive-based...more
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