April 20, 2010

SEC Alumni: Bring Out Your Old Photos

For years, I’ve been on the “verge” of creating an online photo gallery for Corp Fin alumni. Now I’m finally doing it via this “Photo Gallery.” Send yours along to me if you find some in your attic – and even new photos are welcome. If you don’t have the ability to scan photos, you can mail them to me – and I’ll scan them and mail them back.

As an example, this old picture is courtesy of Marty Dunn and features the Corp Fin “Poison Pills” softball team (names are listed above the pic). Given that the picture is over 15 years old, some names may have changed. Most of the other pics so far were contributed by our Staff; hence the overabundance of pics including us…

Nasdaq Revises Its Global Select Market Listing Standards

Last week, the SEC issued this order approving amendments to Nasdaq’s Global Select Market Listing standards that allow a company to list if it has at least a $160 million market capitalization, $80 million in total assets and $55 million in stockholders’ equity. Companies meeting these standards would also be required to meet the round-lot holder and market value of publicly held shares requirements.

In addition, Nasdaq lowered the market value of publicly-held shares requirement for IPOs and affiliated companies from $70 million to $45 million. Also, Nasdaq amended its rules to clarify that a SPAC is not permitted to list on the Global Select Market since the new listing standard may otherwise be relied upon by such a company.

Although the amendments are immediately effective upon filing with the SEC, the Nasdaq website indicates that the changes to its rules will “become operative” as of May 6th.

Suzanne Rothwell’s nifty chart containing a comparison of NYSE and Nasdaq listing requirements has been updated. Tune in on June 22nd to hear Suzanne and senior members of the Nasdaq Staff during our webcast, “Nasdaq Speaks ’10: Latest Developments and Interpretations.”

A Poll: The SEC v. Goldman Sachs

A number of members wanted me to gauge how our community felt about the SEC’s lawsuit against Goldman Sachs (see yesterday’s blog). In the following anonymous poll, you can select more than one answer:

Online Surveys & Market Research

– Broc Romanek