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2025-03804 — Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To Amend Section 102.01 of the NYSE Listed Company Manual To Provide That the Stockholder Requirements Set Forth Therein Will Be Calculated on a Worldwide Basis When Listing a Company From Outside North America That Is Listing in Connection With Its Initial Public Offering and Is Not Listed on Any Other Regulated Stock Exchange
March 11, 2025
Type:Notice
Citation:90 FR 11760
Reading Time:about 3 minutes
The Securities and Exchange Commission (SEC) has announced an extension for determining whether to approve a rule change proposed by the New York Stock Exchange (NYSE). The rule change involves calculating distribution standards on a worldwide basis for certain companies listing on the NYSE. The original deadline for the decision was March 9, 2025, but the SEC has extended this by 60 days to May 8, 2025, to allow more time for consideration. The SEC has not yet received any public comments on this proposed rule change.
Simple Explanation
The U.S. Securities and Exchange Commission (SEC) needs more time to decide on a new rule from the New York Stock Exchange (NYSE). This rule is about how they count the number of people who own shares in a company from outside North America. The SEC has given itself until May 8, 2025, to make this decision.
2024-29334 — Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Amendment No. 1 and Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To Amend Section 102.01 of the NYSE Listed Company Manual To Provide That the Stockholder Requirements Set Forth Therein Will Be Calculated on a Worldwide Basis When Listing a Company From Outside North America That Is Listing in Connection With Its Initial Public Offering and Is Not Listed on Any Other Regulated Stock Exchange
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December 13, 2024
Type:Notice
Citation:89 FR 101064
Reading Time:about 28 minutes
The New York Stock Exchange (NYSE) has proposed a change to its rules for listing companies from outside North America. This proposal would allow companies listing for the first time, that are not already on another stock exchange, to have their worldwide shareholders count towards the NYSE's stockholder requirements. The intention is to make it easier for international companies to list on the NYSE and to enhance competition with Nasdaq. The Securities and Exchange Commission (SEC) is reviewing this proposal to ensure it protects investors and maintains market integrity. They are inviting public comments to help decide on approval.
Simple Explanation
The New York Stock Exchange wants to change a rule so that companies from outside North America, listing for the first time, can count all their worldwide fans, not just those in North America, to meet certain requirements to be listed, and officials are looking at this change to make sure it’s fair and safe.
2025-02679 — Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Modify Certain Initial Listing Liquidity Requirements
February 18, 2025
Type:Notice
Citation:90 FR 9771
Reading Time:about 2 minutes
The Nasdaq Stock Market LLC submitted a proposal to the Securities and Exchange Commission (SEC) to change some of its rules for companies that want to list on its markets, particularly those that are doing an initial public offering or moving from another market. These rule changes would require that the necessary market value of publicly held shares come only from the proceeds of these offerings. The SEC has extended the time it will take to make a decision on whether to approve or disapprove these changes. The new deadline for the SEC's decision is March 30, 2025.
Simple Explanation
Nasdaq wants to change some rules about how companies can join their markets, and the team that checks these rules needs more time to decide if the changes are okay. They have until March 30, 2025, to make their decision.
2025-04343 — Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1, To Modify Certain Initial Listing Liquidity Requirements
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March 18, 2025
Type:Notice
Citation:90 FR 12608
Reading Time:about 16 minutes
The Securities and Exchange Commission (SEC) has approved changes to the Nasdaq Stock Market's initial listing requirements on an accelerated basis. These changes require that companies listing on the Nasdaq Global Market or Nasdaq Capital Market through an initial public offering (IPO) meet a minimum market value of publicly held shares solely with the proceeds from the offering. Additionally, companies uplisting from the U.S. over-the-counter market will also need to meet this requirement using only IPO proceeds. The purpose of these changes is to enhance liquidity and stability for newly listed securities.
Simple Explanation
The SEC made a new rule for companies that want to join a special market called Nasdaq. This rule says the companies need to have a certain amount of money from their sales to be allowed in, making it safer and steadier for people buying their shares.

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