18 Feb 2025
📈NYSE American Proposes Rule Change on Cash Sales and Shareholder Approval
Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Section 713 of the NYSE American LLC Company Guide To Amend the Price Requirements for the Exception From the Shareholder Approval Rules Set Forth in Section 713(a) To Provide That Only Cash Sales of Securities at or Above the Minimum Price Qualify for That Exception
Summary
The NYSE American LLC has proposed a rule change to amend Section 713 of its Company Guide. The change aims to redefine the pricing test for cash sales of securities that qualify for exemption from shareholder approval, clarifying that only cash sales at or above a newly defined minimum price will meet this exemption criteria.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed rule change affects the pricing test for cash sales of securities, altering the requirements for shareholder approval. This impacts business owners by modifying compliance processes and potentially facilitating transactions, making it essential for executives to stay informed about these regulatory changes.