Showing results for: “nasdaq”
Vonage IPO flop magnifies FWP snafu.
As you’ve probably heard, Vonage’s IPO was a flop. It closed down 12.6% from its IPO price of $17. This represented the weakest first day performance of an IPO in nearly two years. It also greatly magnifies the apparent technical violations of the Securities Act I blogged about yesterday (see here). As Voange disclosed in ... Vonage IPO flop magnifies FWP snafu.
SEC to Consider Expanded Preemption of Blue Sky Registration Requirements
In 1996, Congress passed the National Securities Markets Improvement Act, which, among other things, amended Section 18 of the ’33 Act to provide that no state law, rule, regulation or order “requiring, or with respect to, registration or qualification of securities, or registration or qualification of securities transactions, shall directly or indirectly apply to a ... SEC to Consider Expanded Preemption of Blue Sky Registration Requirements
NASDAQ to Launch New Market Tier
Nasdaq announced today (press release) that it is creating a third market tier called NASDAQ Global Select Market which will have the highest initial listing standards of any stock market in the world. According to Nasdaq’s CEO Robert Greifeld: NASDAQ is raising its financial listing standards above that of any other market globally to attract ... NASDAQ to Launch New Market Tier
NASDAQ’s Conversion to a “National Securities Exchange�
Not much, if anything, has been written about NASDAQ’s conversion from a “national securities association� to a “national securities exchange.� (Press release here). Perhaps it’s because few people care, few people were aware that NASDAQ was not already a national securities exchange, and/or it doesn’t really matter. That all may be true, but it raises ... NASDAQ’s Conversion to a “National Securities Exchange�
Venture Backed Firms Going Public in London
This article from CFO.com reports that VCs have been having trouble taking their portfolio companies public in the U.S. largely because SOX has made it too expensive for small companies and the Wall Street research settlement has resulted in much less analyst coverage of small public companies. Larry Ribstein also talks about this here. As ... Venture Backed Firms Going Public in London
Can the SEC Exempt Small Companies From Sarbanes-Oxley 404?
Last month the SEC Advisory Committee on Smaller Public Companies adopted the following three recommendations concerning oft-maligned Sarbanes-Oxley Section 404: 1. Exempt Microcap companies from S404, subject to certain conditions 2. Exempt Smaller Public Companies from the external audit requirement of S404, subject to certain conditions. 3. The subcommittee strongly endorses recommendation #2. However, if ... Can the SEC Exempt Small Companies From Sarbanes-Oxley 404?
