In mid-December 2021, the SEC proposed amendments to Rule 10b5-1 under the Securities Exchange Act to add new conditions to the availability of the affirmative defense under the rule. Winston & Strawn attorneys Joseph Adams, David Sakowitz, and Kevin Smith explore these new regulations.In mid-December 2021, the SEC proposed amendments to Rule 10b5-1 under the Securities Exchange
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Changes Ahead: New Proposals to the Nasdaq Primary Direct Listings Rule
On May 19, 2021, the Securities and Exchange Commission (SEC) approved the Nasdaq Stock Market LLC’s (Nasdaq) proposal to allow companies to directly list their equity securities on the exchange without an underwriter. The rule allows direct listings with a capital raise (DLCRs). Following the SEC’s approval, there was discussion over whether more consideration should…
Hong Kong Starts Accepting SPAC Applications on January 1, 2022
On 17 December 2020, the Stock Exchange of Hong Kong (“HKEX”) published its conclusions to the consultation paper on the new listing regime for Special Purpose Acquisition Companies (“SPACs”). The HKEX will start accepting listing applications from SPACs pursuant to this new SPAC regime under the new Chapter 18B (the “Hong Kong SPAC Regime”), which…