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Hogan Lovells

Summary of UK Takeover Panel Practice Statement 35 (PS35): Profit forecasts, quantified financial benefits statements and...

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PS35 provides further guidance on how the Panel usually applies Rule 28 (profit forecasts and quantified financial benefits statements) in practice. Rule 28 lays out relatively stringent regulatory obligations/reporting...more

K&L Gates LLP

ASIC Trialling Fast-Tracked Initial Public Offerings

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On 10 June 2025, the Australian Securities and Investment Commission (ASIC) announced that it was commencing a two-year trial of a fast-tracked initial public offering (IPO) process (Fast-Track Process)....more

Troutman Pepper Locke

Time to Assess "Foreign Private Issuer" Status - 2025

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It is time to assess “foreign private issuer” status. Foreign public and private issuers enjoy the benefits of significant exemptions and exclusions from registration under U.S. federal securities laws based on whether they...more

Carlton Fields

SEC Solicits Public Comment on Definition of “Foreign Private Issuer”

Carlton Fields on

The Securities and Exchange Commission (SEC) published a concept release on June 4, 2025, seeking feedback on whether the SEC should amend the definition of “foreign private issuer” (FPI). In the release, the SEC asks whether...more

Cooley LLP

Texas Stock Exchange? Could Become a NYSE and Nasdaq Competitor

Cooley LLP on

My mind was sort of blown when I read this recent press release saying that the Texas Stock Exchange (TXSE) had filed this Form 1 application to register as a national securities exchange. I was tripping because the TXSE was...more

Jones Day

Hard Launch: TXSE Goes Public

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TXSE (pronounced TEX-see) announced on April 4, 2025 that its Form 1 registration is now public, putting it one step closer to Y'all Street. The announcement touted its proprietary “matching engine" that it believes will make...more

Troutman Pepper Locke

New Texas Stock Exchange Aims at Nasdaq and NYSE

Troutman Pepper Locke on

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

Cornerstone Research

Number of Securities Class Action Settlements Rises Slightly as Median Settlement Amount Declines from 2023 13-Year High

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The number of securities class action settlements increased slightly in 2024 while the size of those settlements declined, according to a new report from Cornerstone Research. The report, Securities Class Action...more

Stikeman Elliott LLP

TSX Proposes Amendments to Original Listing Requirements

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The Toronto Stock Exchange (“TSX”) has published for comment proposed amendments (the “Proposed Amendments”) to Part III - Original Listing Requirements and Part V - Special Requirements for Non-Exempt Issuers (“Part V”) of...more

K&L Gates LLP

SEC Expands Nonpublic Review Process for Draft Registration Statements

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On 3 March 2025, the Division of Corporation Finance of the Securities and Exchange Commission (the SEC) announced that it is expanding the scope of availability for companies to submit draft registration statements for...more

Dorsey & Whitney LLP

Taking Forward Reforms to the Hong Kong Listing Regime

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In the recently released 2025-2026 Budget, the Hong Kong Government has mentioned that it will further strengthen the city’s role as a leading international financial centre. It extends various favorable policies and reforms...more

Cooley LLP

Corp Fin Starts Redlining CDI Changes!

Cooley LLP on

Sure, it’s important to know that Corp Fin recently issued three new CDIs and updated two existing CDIs regarding Notices of Exempt Solicitations (also known as “PX14A6G” filings)....more

Cornerstone Research

Securities Class Action Filings Increase for Second Consecutive Year in 2024

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AI-related filings more than double and 1933 Act filings continue to decline. The number of securities class action filings increased for the second consecutive year in 2024, with artificial intelligence (AI)-related...more

King & Spalding

The Saudi Arabian Capital Market Authority Allows Foreign Investment in Real Estate in Makkah and Madinah Through Listed Companies

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On 27 January 2025, the Saudi Capital Market Authority (“CMA”) approved the ‘Controls for the Exclusion of Companies Listed in the Saudi Stock Exchange (Tadawul) from the Meaning of the Phrase (Non-Saudi) in accordance with...more

Morgan Lewis

HKEX Issues Conclusions on Proposed Expansion of Paperless Listing Regime

Morgan Lewis on

The Hong Kong Stock Exchange concluded its consultation on the proposed expansion to the paperless listing regime. All of the proposals are adopted with minor modifications and clarifications. Summarized below are the key...more

Morrison & Foerster LLP

Update Kapitalmarkt- und Gesellschaftsrecht

Das ursprünglich am 7. Dezember 2022 durch die EU-Kommission vorgelegte Maßnahmenpaket, das unter dem Titel „EU Listing Act“ bekannt ist, wurde nun endlich im November 2024 im Amtsblatt der Europäischen Union veröffentlicht....more

Jones Day

The Impact of a Second Trump Presidency on SEC Enforcement Priorities

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A new presidential administration is likely to bring change across the federal government, perhaps nowhere more starkly than at the Securities and Exchange Commission ("SEC"), which has greatly expanded its enforcement reach...more

Wyrick Robbins Yates & Ponton LLP

NYSE Proposes to Limit Use of Reverse Stock Splits

Brief Summary - In September 2024, the New York Stock Exchange (“NYSE”) proposed a rule change intended to curb the excessive use of reverse stock splits as a means of regaining compliance with certain listing standards....more

Cornerstone Research

Securities Class Action Filings 2024 Midyear Assessment - Non-U.S. Core Federal Filings

Cornerstone Research on

This is an excerpt from Securities Class Action Filings 2024 Midyear Assessment - This index tracks the number of core federal filings against foreign issuers (i.e., companies headquartered outside the United States)...more

Cornerstone Research

Securities Class Action Filings: 2024 Midyear Assessment - Summary of Trend Filings

Cornerstone Research on

This is an excerpt from Securities Class Action Filings 2024 Midyear Assessment - This figure highlights recent trend categories that have appeared in core filing activity. See the Glossary for definitions of each trend...more

Mayer Brown Free Writings + Perspectives

Nasdaq Proposes to Tighten Non-Compliance Period

On June 21, 2024, The Nasdaq Stock Exchange (“Nasdaq”) filed a proposed rule change with the Securities and Exchange Commission to modify the application of the bid price compliance period as a result of which a company takes...more

Mayer Brown Free Writings + Perspectives

NYSE Issues 2024 Listed Company Compliance Guidance Memo

The New York Stock Exchange (“NYSE”), through the NYSE Regulation staff, has issued its annual Listed Company Compliance Guidance Memo for 2024 (“Memo”), which informs NYSE-listed companies of new matters, including the...more

Jones Day

Hong Kong GEM Listing Reforms Take Effect

Jones Day on

The Situation: The Growth Enterprise Market (the "GEM") listing activities in Hong Kong have been declining since 2019, and there was no new listed issuer on the GEM in 2022....more

Mayer Brown Free Writings + Perspectives

NYSE Receives Approval to Limit Reach of Shareholder Approval Rule

On December 26, 2023, the Securities and Exchange Commission (“SEC”) approved an amended proposal submitted by the New York Stock Exchange (“NYSE”) that narrows the scope of the NYSE’s shareholder approval requirement for a...more

Stinson - Corporate & Securities Law Blog

NYSE Updates Shareholder Approval Rule

The NYSE amended its shareholder approval rules to make it easier for listed companies to sell securities to passive existing shareholders without obtaining shareholder approval.  The SEC approved the change on an accelerated...more

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