Search Results for keywords:"shareholder meetings"

Cboe BZX Exchange, Inc. proposed a rule change to the Securities and Exchange Commission (SEC) to exempt certain investment companies from the requirement to hold annual meetings for shareholders. This proposal, initially filed on June 25, 2024, included modifications made on July 2, 2024. The SEC extended its decision period multiple times before Cboe BZX withdrew the proposal on January 31, 2025.

The Nasdaq Stock Market LLC has proposed a rule change to allow non-U.S. companies to have lower quorum requirements for shareholder meetings when their home country's laws conflict with Nasdaq's minimum requirement. Currently, Nasdaq requires a quorum of at least 33 1/3% of voting shares for meetings, but some countries, like France, have laws that mandate a lower percentage. This proposal aims to prevent non-U.S. companies from having to choose between complying with Nasdaq rules or their local laws. With proper certification from an independent counsel, Nasdaq may accept these lower quorum requirements, ensuring non-U.S. companies can continue following their home country regulations without breaching Nasdaq's rules.