On October 7, the SEC posted notice and immediate effectiveness of a Nasdaq amendment to Listing Rule 5505, which will require a minimum $4 stock price for initial listing on the Nasdaq Capital Market. This will eliminate the alternative price
Public Company Advisory Blog
The Public Company Advisory Blog, published by Goodwin Procter, focuses on legal and regulatory developments affecting public companies. It covers topics such as securities law compliance, corporate governance, disclosure obligations, proxy advisory firm regulations, executive compensation, shareholder rights, and the impact of legislative and regulatory changes on public company operations. The blog also addresses issues related to foreign private issuers, mandatory arbitration provisions, and SEC policy shifts, providing insights relevant to corporate boards, officers, and legal advisors involved in public company matters.
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ISS STOXX Governance Announces Results of Annual Global Benchmark Policy Survey
By Publisher
On October 7, ISS STOXX Governance (ISS) announced the results of its annual global benchmark policy survey. This survey is conducted as part of the annual policy development process that ISS undertakes to determine whether it should make changes…
Division of Corporation Finance Issues Another Retail Voting Program No-Action Letter
By Publisher
On September 29, 2026, the SEC’s Division of Corporation Finance issued a no-action letter in response to a request from Tesla, Inc. (Tesla) indicating that the Division would not recommend enforcement action to the Commission if Tesla proceeded with its…
Division of Corporation Finance Expands the Roadmap for Retail Voting Instruction Programs
By Publisher
On September 28, 2026, in a response to a request from Goldman Sachs, the SEC’s Division of Corporation Finance issued a no-action letter stating that it would not recommend enforcement action related to Exchange Act Rules 14a-3(a), 14a-4(d)(2), 14a-4(d)(3), 14a-4(f)…
SEC Proposes Modernizing Proxy Solicitation Rules
By Publisher
The SEC has issued a proposing release titled “Proxy Solicitation Modernization.” If adopted, the proposed amendments would eliminate certain annual report delivery and exempt solicitation filing requirements, remove a 20-business-day delivery period for certain proxy statements and prospectuses,…
SEC Proposes Rescinding the Federal Shareholder Proposal Rule
By Publisher
The SEC has issued a proposing release titled “Rescission of Rule 14a-8’s Federal Regulation of Shareholder Proposals and Amendments to Rule 14a-4.” If adopted, these proposed amendments would rescind Rule 14a-8, which permits eligible shareholders to include certain…
SEC Submits Several Rulemakings for Review
By Publisher
At the end of August 2026, the SEC submitted three significant rulemaking projects to the Office of Information and Regulatory Affairs (OIRA) that would impact public companies and capital raising. OIRA updated its dashboard to indicate that these rulemakings are…
FDA and SEC Announce MOU to Increase Collaboration Between the Agencies
By Publisher
On August 31, 2026, the Food and Drug Administration (FDA) and the SEC announced a memorandum of understanding (MOU) that formalizes and streamlines existing interagency cooperation practices by establishing a written framework for sharing information about FDA-regulated products, companies, and…
SEC Staff Clarifies Schedule 13G Implications of Shareholder Engagement
By Publisher
On September 2, 2026, the staff of the Securities and Exchange Commission’s Division of Corporation Finance issued three new Exchange Act Sections 13(d) and 13(g) and Regulation 13D-G Beneficial Ownership Reporting Corporation Finance Interpretations (CFIs) addressing when shareholder engagement will…
SEC Submits Executive Compensation Disclosure Rulemaking for OIRA Review
By Publisher
On August 26, 2026, the SEC submitted a rule proposal titled “Executive Compensation Disclosure Reform” to the White House’s Office of Information and Regulatory Affairs (OIRA). Those SEC rulemaking initiatives that are under review by OIRA are listed on a…