Tag: early-stage company

Notwithstanding concerns of Investor Advocate, SEC approves NYSE proposal to exempt certain related-party transactions from shareholder approval requirements

by Cydney Posner As you may recall, in April of this year, the NYSE filed with the SEC a proposed rule change that would exempt from the NYSE’s shareholder approval requirements early stage companies that seek to issue, subject to audit committee approval, shares, for cash, to officers, directors or substantial […]

SEC’s new “investor advocate” takes a stand on NYSE proposed rule change

by Cydney Posner Today, the new Investor Advocate, Rick Fleming, issued a statement regarding his “First Official Recommendation” to the SEC.  What was that recommendation? He recommended  that the SEC disapprove the NYSE’s proposed rule change that would exempt certain early stage companies from having to obtain shareholder approval before selling additional […]

How often does this happen?

by Cydney Posner As noted in  yesterday’s thecorporatecounsel.net blog, the SEC has issued an Order instituting  proceedings  under Section 19(b)(2)(B) of the Exchange Act to determine whether to disapprove a proposal to amend Sections 312.03(b) and 312.04 (shareholder approval) of the NYSE Listed Company Manual.  The proposal would exempt from […]

Regulatory salmagundi

by Cydney Posner Release of no-review letters. As you know, the SEC has been releasing the give and take of comment letter correspondence with registrants for a number of years.  Now the SEC has announced that, beginning July 1, 2015, Corp Fin will begin releasing no-review letters on EDGAR with […]