News & Analysis as of

Liquidity Securities Regulation

Fenwick & West LLP

SEC OKs Nasdaq's Changes to Initial Listing Reqs

Fenwick & West LLP on

The SEC recently approved Nasdaq’s proposed changes to the initial listing requirements related to liquidity. Nasdaq proposed to change Listing Rules 5405 and 5505 to...more

ArentFox Schiff

Nasdaq Amends Proposal to Modify Rule for Initial Listing Liquidity Requirements

ArentFox Schiff on

In December 2024, the Nasdaq Stock Market LLC submitted a proposal to the US Securities and Exchange Commission (SEC) to modify its requirements for calculating the minimum Market Value of Unrestricted Publicly Held Shares in...more

Cadwalader, Wickersham & Taft LLP

Business As Usual, October 2024 - The European Union Kicks Off Its Consultation on the Reform of Its Securitisation Framework

The European Commission has produced the first leg of its long awaited consultation on the function of the EU Securitisation Framework ("ESF") in the form of a paper setting out consultation questions....more

K&L Gates LLP

Checked Swing—SEC Does Not Adopt "Swing Pricing" or a "Hard Close" for Now, but Only Provides Liquidity Guidance and Amendments to...

K&L Gates LLP on

EXECUTIVE SUMMARY On 28 August, 2024, the Securities and Exchange Commission (SEC) adopted amendments to reporting forms for registered investment companies (funds) that will (1) require funds to file monthly (rather than...more

Mayer Brown

SEC Adopts Rules to Require Registration of Certain Persons Engaging in Liquidity-Providing Activities as “Dealers” and...

Mayer Brown on

On February 5, 2024, the U.S. Securities and Exchange Commission (“SEC”) adopted new rules – SEC Rules 3a5-4 and 3a44-2 (collectively, the “Final Rules”) – to further define the phrase “as part of a regular business” used in...more

Womble Bond Dickinson

Tender Offer Rules & Regulations: What Private Companies Need to Know

Womble Bond Dickinson on

Though more commonly associated with publicly listed companies, tender offer rules and regulations apply to private company transactions as well. Tender offers provide a mechanism for a prospective investor, or the company...more

Herbert Smith Freehills Kramer

SEC Adopts Amendments to Money Market Fund Rules

On July 12, the Securities and Exchange Commission (Commission) adopted amendments to Rule 2a-7 governing money market funds under the Investment Company Act of 1940 (1940 Act). ...more

A&O Shearman

Feeling conflicted: SEC Rule 192 and you

A&O Shearman on

On January 25, 2023, the United States Securities and Exchange Commission (the SEC) revived a proposed rule (initially proposed in September 2011) pursuant to Section 27B (Proposed Rule 192) aimed at preventing material...more

Hogan Lovells

Securities and markets regulatory news, August 2020 # 2

Hogan Lovells on

Capital market regulation: FCA speech - The FCA has published a speech given by Mark Steward, Executive Director of Enforcement and Market Oversight on "Capital market regulation and coronavirus". Among other things, Mr...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Staff, Chief Accountant Provide Additional Guidance Related to COVID-19

On June 23, 2020, the Division of Corporation Finance (the Division) of the U.S. Securities and Exchange Commission (SEC) issued CF Disclosure Guidance: Topic No. 9A (Guidance) on disclosures focusing on the impact of...more

Akin Gump Strauss Hauer & Feld LLP

NYSE Temporarily Waives Certain Shareholder Approval Requirements to Mitigate Liquidity Constraints Caused by COVID-19

On April 6, 2020, the Securities and Exchange Commission (SEC) approved and declared immediately effective a proposed rule change filed by the New York Stock Exchange LLC (NYSE) temporarily waiving through June 30, 2020,...more

Latham & Watkins LLP

Italian Securities Exchange Commission Introduces Revised Liquidity Contracts Market Practice

Latham & Watkins LLP on

The revised Market Practice reflects the remarks raised by ESMA after a public consultation process. Article 13 of MAR provides for an exemption from sanctions in case a transaction breaches the general prohibition of...more

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