The Securities and Exchange Commission recently announced the agenda for the upcoming meeting on September 27, 2021, of the SEC’s Small Business Capital Formation Advisory Committee.  The Committee will meet virtually, and the meeting will be a webcast on the SEC’s website.  The Committee will discuss pre-IPO investments and the role of cross-over investors in

Securities and Exchange Commission Chair Gary Gensler was back on the Hill, this time testifying before the Subcommittee on Financial Services and General Government, US House Appropriations Committee.  During his testimony, Chair Gensler commented on five key capital markets trends, which included a discussion on IPO, SPAC and direct listing trends and policy implications.

In

On May 19, 2021, the Securities and Exchange Commission (“SEC”) approved proposed rule changes submitted by The Nasdaq Stock Market LLC (“Nasdaq”) that allow companies to list in connection with a concurrent primary offering.  The approved rule allows a company that has not previously had its equity securities registered under the Securities Exchange Act of

On February 22, 2021, Nasdaq amended the rule changes it initially proposed in September 2020 that would permit an issuer to conduct a concurrent primary offering of its securities and a direct listing on Nasdaq.  In December 2020, the US  Securities and Exchange Commission approved amendments to the New York Stock Exchange (“NYSE”) rules allowing

Shortly before the end of his tenure as Chair of the US Securities and Exchange Commission (SEC), Chair Jay Clayton presided over the SEC as it considered and approved the New York Stock Exchange’s (NYSE) proposed rule change modifying the NYSE’s rules in order to permit, as described in this Legal Update, primary issuances in

On December 22, 2020, the Securities and Exchange Commission (the “SEC”) approved the proposal submitted by the New York Stock Exchange (“NYSE”) that allows companies to conduct concurrent primary offerings as part of a direct listing on the exchange.  The NYSE’s proposal had been put on hold since August, following the SEC’s receipt of a

The Securities and Exchange Commission (SEC) will consider the NYSE’s proposed rule change relating to direct listings, which had previously been slated for consideration at the December 16th open meeting, at an open meeting now scheduled on December 21st.

See the meeting notice here.

 

Next week, on December 16, 2020, at 10am ET, at an open meeting, which likely will be the last for Chair Clayton, the Securities and Exchange Commission will consider several interesting matters.

The SEC will consider final rules regarding resource extraction payment disclosures.  This is a Dodd-Frank Act requirement pursuant to Section 1504.  These rules

In the International Financial Law Review’s latest publication, A Deep Dive Into Capital Raising Alternatives, Mayer Brown provides context on the changes in market structure and market dynamics that led to the enactment of the JOBS Act. Specifically, the trend for many private companies to remain private longer, defer or dispense with traditional