August 19, 2004

ABA Annual Meeting Notes We

We have posted bullet point highlights from the two sessions at the recent ABA Annual Meeting that featured Corp Fin Director Alan Beller. These ABA Meeting Notes are in Section F of the Sarbanes-Oxley Law Firm Memos.

New Nasdaq Proposal for Non-US Issuers

Currently, Nasdaq doesn’t impose initial listing requirements relating to share price or market value with respect to non-Canadian foreign issuers seeking to list on the Nasdaq SmallCap Market. By contrast, domestic issuers must have a bid price of at least $4 and a market value of publicly held shares of at least $5 million for initial listing. On August 11th, the SEC issued a proposal by Nasdaq to amend Nasdaq Rule 4320 to apply these same initial inclusion requirements to non-Canadian foreign issuers.

Musings on Google’s Acceleration Request

As a two-time Corp Fin’er, I couldn’t help but smile after reading the varying accounts in the business media yesterday that speculated about the “technical” reasons why the Google S-1 had not yet been declared effective. Brought back memories of seeking an Assistant Director (preferably one that didn’t ask a lot of questions) to sign off on those triplicate delegated authority forms before a deal could hit the street – the Staff still uses those ancient forms. Dem were da days…