NYSE Sends Its 2016 Memos to Listed Domestic Companies and Foreign Private Issuers | Practical Law

NYSE Sends Its 2016 Memos to Listed Domestic Companies and Foreign Private Issuers | Practical Law

The NYSE sent its annual memos to listed domestic companies and foreign private issuers summarizing the NYSE's policies and rules that most commonly apply to listed companies.

NYSE Sends Its 2016 Memos to Listed Domestic Companies and Foreign Private Issuers

Practical Law Legal Update w-001-3216 (Approx. 4 pages)

NYSE Sends Its 2016 Memos to Listed Domestic Companies and Foreign Private Issuers

by Practical Law Corporate & Securities
Published on 13 Jan 2016 • USA (National/Federal)
The NYSE sent its annual memos to listed domestic companies and foreign private issuers summarizing the NYSE's policies and rules that most commonly apply to listed companies.
On January 12, 2016, the NYSE issued its annual memo to the executives of its listed domestic companies and memo to the executives of its listed foreign private issuers. The memos summarize the NYSE's policies and rules that most commonly apply to listed companies. In the memos, the NYSE highlighted, among other things:
  • The availability of egovdirect.com for electronic reporting.
  • Recent amendments to the NYSE's requirements for the dissemination of material news by listed companies, and the circumstances in which the NYSE may halt trading in connection with material news events (to learn more about the amendments, see Legal Update, NYSE Amendments to Rules on Notifications of Material News and Trading Halts Take Effect on September 28).
  • That listed companies should:
    • promptly and broadly disseminate to the market news of the scheduling of their earnings announcements or of any change in that schedule; and
    • avoid selective disclosure of that information before its broad dissemination.
  • Recent amendments to Section 312.03(b) of the NYSE's Listed Company Manual exempting any listed company that has not reported revenues greater than $20 million in any two consecutive fiscal years since its incorporation from Section 312.03(b)'s shareholder approval requirements (for more on the amendments, see Legal Update, SEC Approves NYSE Proposal to Exempt Early Stage Companies from Shareholder Approval Requirement for Issuances to Related Parties).
  • The NYSE's intention to file a proposed rule change with the SEC that would require foreign private issuers to submit a Form 6-K to the SEC containing semi-annual unaudited financial information no later than six months following the end of the company's second fiscal quarter.
  • Requirements for record dates, shareholder meeting/proxy matters, redemptions and conversions of listed securities, and other notifications to the NYSE.
  • The annual report website posting requirement.
  • Corporate governance requirements.
  • Transactions requiring supplemental listing applications.
  • Shareholder approval and voting rights requirements.
  • The NYSE's timely alert/material news policy.
For more information on requirements for NYSE-listed companies, see the following resources: