In April 2021, the SEC approved an NYSE proposal to relax the requirements for shareholder approval of related-party equity issuances and bring them into closer alignment with the comparable Nasdaq rules. (See this PubCo post.) Among the provisions amended was Section 314, which requires that a “related-party transaction” be reviewed by the board. However, the amendments created something of a hiccup for many companies. Since the adoption of amendments, the NYSE has learned that the new rules had the “unintended effect of disrupting the normal course transactions of listed companies,” and “created a significant compliance burden.” As a result, the NYSE proposed to rectify the problem by again amending Section 314. The SEC has just approved that amendment.