Category: Regulatory
SEC Enforcement Update: SEC and FDA Formalize Information-Sharing Framework
By Liz Dunshee If you’re leading a publicly traded life sciences company, you are likely well aware of the complexities of navigating multiple regulators, with the Securities and Exchange Commission and the Food and Drug Administration playing major roles in the US. Those agencies don’t operate in a vacuum. The […]
Capital Formation: What New SEC Data Reveals About IPOs and Follow-Ons
By Liz Dunshee Back in February, we looked at SEC data on small and pre-public companies and noted that IPOs were reemerging as an option after several lean years. The SEC’s Division of Economic and Risk Analysis has now released a fresh set of capital formation statistics covering the first […]
Form S-1 After the IPO: SEC Clarifies Incorporation by Reference
By Liz Dunshee For companies that are ineligible to use Form S-3 – e.g., because they do not yet meet the seasoning requirement under current rules or are otherwise ineligible – Form S-1 remains part of the capital-raising toolkit. For example, newly public companies may use Form S-1 for a […]
Exchange Listings: Rule and Infrastructure Watchlist for Late-Stage and Public Companies
By Liz Dunshee Back in January, I wrote about Nasdaq’s “life-changing magic of tidying up” as the exchange tightened several initial and continued listing standards. Since then, some proposals became rules, one significant continued-listing rule is on hold, and NYSE and NYSE American have made a few changes too. These […]
Modernizing IPOs and Public Capital Raising: Cooley Weighs In
By Dave Peinsipp, Jon Avina, Rich Segal, Brad Goldberg, Milson Yu, Logan Tiari, Allie Anderson and Liz Dunshee As discussed in this June 2026 CapitalXchange blog, the SEC has proposed rule changes aimed at expanding access to the shelf registration framework and simplifying eligibility criteria. If the rule is adopted […]
Nasdaq 23/5 Trading: What Changes for Corporate Actions – and What Doesn’t
By Liz Dunshee Nasdaq currently expects to begin 23/5 trading on December 6, 2026, subject to industry readiness and completion of related rule changes. The Governance Beat has a useful overview of Nasdaq’s FAQs on global trading hours. This post addresses a narrower question for Nasdaq-listed companies: Will Nasdaq’s expanded […]
Nasdaq’s New Initial Listing Criteria for “China-Based Issuers”: Threshold Questions and Deal Considerations
By Liz Dunshee In my January overview of Nasdaq’s market-quality proposals, I flagged proposed heightened initial listing standards for companies based in China, Hong Kong and Macau, which Nasdaq refers to as “China-based Issuers.” The SEC approved the revised rule on May 14, 2026, and Nasdaq Rule 5210(l) became operative […]
Make IPOs Great Again: Can Being Public Really Be This Simple?
By Liz Dunshee In addition to the SEC’s recent rule proposals covered in this June 24, 2026 CapitalXchange blog, the SEC staff has made a number of procedural changes and interpretive updates since January 2025. The staff-level changes are consistent with – and in some cases served as a prelude […]
Make IPOs Great Again: Your First Look at How the Rulemaking Pieces Fit Together
By Liz Dunshee IPO activity is building across sectors, and the Securities and Exchange Commission is ready to meet the moment. Over the past month or so, the SEC has put forward a series of reforms – touching capital markets access, scaled disclosure accommodations, reporting cadence, climate disclosure and enforcement […]
CapitalXchange Audio – How Proxy Season Is Changing
By Liz Dunshee In this 16-minute CapitalXchange interview, Michael Mencher and Vince Flynn flagged regulatory and investor updates to watch in light of Cooley’s Post-IPO Governance Trends Report. We covered: Listen here: Show notes: The views expressed during interviews are the speakers’ personal views and do not necessarily reflect those […]