In January 2025, the Securities and Exchange Commission (SEC) approved rules proposed by the New York Stock Exchange and Nasdaq that permit the exchanges to accelerate the delisting process for companies that fail to maintain a $1 minimum share price. The SEC approvals follow a record 495 reverse splits enacted…
On February 11, 2025, Institutional Shareholder Services (ISS) announced, that, for shareholder meeting reports published on or after February 25, 2025, it will no longer consider the gender, racial, or ethnic diversity of a company’s board when making vote recommendations with respect to the election or re-election of directors at…
Public companies with a calendar year-end have begun filing their annual reports on Form 10-K during the 2025 reporting season at a time of uncertainty driven by rapidly evolving federal government policy developments. We summarize some of the key early trends that we have observed thus far in the 2025 reporting…
On January 21, 2025, President Trump signed an executive order titled “Ending Illegal Discrimination And Restoring Merit-Based Opportunity”, which relates to the termination of diversity, equity and inclusion preferences and policies in government agencies, while encouraging similar measures in the private sector. The Trump Administration’s Executive Order revokes several executive…
In September 2024, the SEC amended the rules and forms that govern how filers access and interact with its EDGAR electronic filing system. These amendments, which the SEC refers to as EDGAR Next, will replace the current password-based access system. The EDGAR Next amendments become effective on March 24, 2025….
The SEC has announced that Commissioner Mark Uyeda has been designated as Acting Chairman of the Securities and Exchange Commission. He will serve in this role until Paul Atkins is confirmed by the Senate as the 34th Chair of the Commission. Mark Uyeda was originally sworn into office as an…
Effective January 1, 2025, The Nasdaq Stock Market raised its all-inclusive annual listing fees for companies with equity securities listed on the Nasdaq Global Select, Global and Capital Markets. The full details concerning the fee increases and an explanation of the reasons for the increases can be found in Nasdaq’s…
On December 30, 2024, President Joe Biden issued an Executive Order providing that all executive departments and agencies of the U.S. federal government will be closed on Thursday, January 9, 2025, as a mark of respect for the passing of former President Jimmy Carter. The SEC announced that the EDGAR…
The SEC announced that the EDGAR system will be closed on both Tuesday, December 24, 2024 and Wednesday, December 25, 2024. December 25 is a federal holiday and December 24 will be treated as a federal holiday “for filing purposes.” The SEC notes that on December 24, 2024 and December 25,…
The continuing resolution funding the federal government is set to expire at midnight, and if Congress does not take action today, a lapse in appropriations will directly impact the operations of the SEC. The last time that a government shutdown occurred for a significant period of time was in 2018,…