23 Apr 2025
💼NYSE Proposes New Rule for Principal Underwriters in IPOs
Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change of New Section 108.00 in the NYSE Listed Company Manual
Summary
The Securities and Exchange Commission notices a proposed rule change by the New York Stock Exchange, introducing new requirements for principal underwriters involved in initial listings. This includes establishing a category of Limited Underwriting Members, impacting how businesses engage in underwriting for public offerings.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The text outlines a proposed regulatory change by the NYSE introducing requirements for principal underwriters, affecting businesses seeking to list on the exchange. Companies must engage a member organization or Limited Underwriting Member as their underwriter, influencing fundraising and IPO strategies.