Easing of restrictions may be on the way for smaller issuers seeking to rely on “finders” to assist with their capital raising efforts.  On October 7, 2020, the U.S. Securities and Exchange Commission (the “SEC”) proposed a new limited, conditional exemption from broker registration requirements of Section 15(a) of the Securities Exchange Act of 1934

Earlier this month, the Securities and Exchange Commission approved amendments to, among other things, revise the rules related to the thresholds for registration, termination of registration, and suspension of reporting under Section 12(g) of the Securities Exchange Act of 1934 (the “Exchange Act”).

The amendments, include establishing:

  • a higher threshold of (1) a minimum of

NASDAQ Requires 10-Minute Notification Prior to Release of Material Information

Effective December 7, 2009, The Nasdaq Stock Market LLC (“Nasdaq”) requires Nasdaq-listed companies to provide Nasdaq’s Market Watch Department with at least 10 minutes prior notification when releasing material information. See Nasdaq Listing Rule 5250(b)(1). Previously, Nasdaq merely recommended such advance notice. Notification is