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NYSE Proposes Changes to Listed Company Manual and Listing Application Materials
Practical Law Legal Update 6-527-2653 (Approx. 3 pages)
NYSE Proposes Changes to Listed Company Manual and Listing Application Materials
by PLC Corporate & Securities
| Published on 02 May 2013 • USA (National/Federal) |
The NYSE proposed to delete the sections of its Listed Company Manual that contain its listing application materials and to post listing application materials on its website.
On April 30, 2013, the NYSE issued a proposed rule that would:
- Delete the sections of the NYSE's Listed Company Manual (Manual) that contain its listing application materials.
- Adopt updated listing application materials that would be posted on the NYSE's website.
- Adopt as new rules certain provisions currently included in forms of agreements in the Manual.
- Adopt new rules to make explicit existing NYSE policies regarding initial listings.
The proposed rule indicates that if the NYSE makes any substantive changes to the listing application documents after they are removed from the Manual and posted on the website, it would submit a rule filing to the SEC to obtain approval of the changes. The NYSE would also maintain all historical versions of the documents on its website.
Update: On August 14, 2013, the NYSE issued an amendment to the proposed rule to correct minor administrative errors and to delete and make minor amendments to certain provisions included in the proposed forms of two types of listing agreements.
To learn more about listing on the NYSE and other securities exchanges, see Practice Note, Selecting a US Securities Exchange.