Search Results for keywords:"compliance period"

Found 3 results

Search Results: keywords:"compliance period"

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  • 2024-28116 — Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change to Amend Section 802.01C of the NYSE Listed Company Manual (Price Criteria for Capital or Common Stock) To Restrict the Use of Reverse Stock Splits in Certain Circumstances
    Type:Notice
    Citation:89 FR 95301
    Reading Time:about 2 minutes

    The New York Stock Exchange LLC (NYSE) filed a proposal with the Securities and Exchange Commission (SEC) to amend rules about reverse stock splits, aiming to prevent companies that fall below certain price criteria from using reverse stock splits to reclaim compliance under specific circumstances. The SEC is taking extra time beyond the usual 45-day review period to evaluate this proposal and any comments received. They have extended the deadline to either approve or disapprove the changes to January 15, 2025. The proposal was initially published for public comment on October 17, 2024.

    Simple Explanation

    The NYSE wants to change a rule so that if a company's stock price is too low, they can't just use a trick called a "reverse stock split" to quickly fix it. The people in charge need more time to decide if this change is okay, so they've pushed back their decision until mid-January.

  • 2020-29139 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Order Disapproving a Proposed Rule Change Relating to Rule 14.11, Other Securities, To Modify a Continued Listing Criterion for Certain Exchange-Traded Products
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    Type:Notice
    Citation:86 FR 332
    Reading Time:about 20 minutes

    The Securities and Exchange Commission (SEC) has disapproved a proposed rule change submitted by the Cboe BZX Exchange, Inc., which aimed to extend the time allowed for certain exchange-traded products (ETPs) to meet minimum listing requirements. The Exchange wanted to increase the compliance period from 12 to 36 months for ETPs to have a minimum of 50 beneficial holders, arguing it aligns better with the ETP lifecycle and current market conditions. However, the SEC found that the Exchange did not provide enough evidence to ensure this change would protect against market manipulation and protect investors. Despite receiving some support from commenters, the proposal was deemed inconsistent with the necessary regulatory requirements.

    Simple Explanation

    The SEC said no to a plan that wanted to give certain types of stocks more time to meet certain rules because they didn't think it was safe enough for investors. They didn't believe that letting these stocks take three years instead of one to gather enough owners would be a good idea, even though some people thought it might help.

  • 2025-00955 — Major Food Allergen Labeling for Wines, Distilled Spirits, and Malt Beverages
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    Type:Proposed Rule
    Citation:90 FR 5763
    Reading Time:about 81 minutes

    The Alcohol and Tobacco Tax and Trade Bureau (TTB) is proposing a rule that would require alcohol beverage labels to disclose the presence of major food allergens such as milk, eggs, fish, shellfish, tree nuts, wheat, peanuts, soybeans, and sesame. This initiative aims to give consumers who are allergic to these foods essential information to make informed choices about alcohol consumption. The proposal is part of a broader push to standardize labeling with other food products, and TTB is considering an extended compliance period to reduce the impact on the industry, particularly small businesses. Comments on the proposal are being sought until April 17, 2025.

    Simple Explanation

    The government wants drink labels to tell people if they are made using certain foods, like milk, eggs, or nuts, to help people with allergies stay safe when they choose what to drink.