United States: Listing Rules & Flotation

Jones Day is pleased to provide you with a brief update on developments in international capital markets in the United States and the European Union ("EU").

On April 15, 2026, The Nasdaq Stock Market LLC (Nasdaq) filed a proposed rule change (SR-NASDAQ-2026-033) with the U.S. Securities and Exchange Commission (the SEC) to increase initial listing requirements...

As addressed in our prior client memo, the "Holding Foreign Insiders Accountable Act" (the "HFIAA"), which was enacted on December 18, 2025 as part of the National Defense Authorization Act for Fiscal Year 2026, requires the directors and officers of foreign private issuers ("FPIs") to make filings under Section 16(a) of the U.S. Securities Exchange Act of 1934, as amended (the "Exchange Act").

On 14 April 2024, the Stock Exchange of Hong Kong Limited published conclusions to its consultation on the enhancement of climate-related disclosures under its environmental, social, and governance...

The UK Financial Conduct Authority (FCA) has today published its long-awaited reforms to the UK's listing regime (Listing Rules), designed to reinvigorate UK capital markets and make the listing regime...

For a number of reasons, certain London-listed companies have been considering, and in some cases implementing, U.S. listings, whether as an additional listing or by way of a unilateral move away from London.

The SEC requested comment on a Nasdaq Stock Market LLC amended proposed rule to adjust pricing limitations on direct listings of primary offerings.

The NYSE's yearly statistics release highlights a second consecutive year of record new listings and the exchange's increased focus on sustainability.

Following on from the FCA's consultation on the effectiveness of the Primary Market, the FCA has published final rules on, amongst other things, free float and minimum market capitalisation...