NASDAQ Corporate Governance Requirements for Foreign Private Issuers
Public companies that are foreign private issuers listed on the Nasdaq Stock Exchange are subject to specific corporate governance requirements, which are less stringent than those applied to U.S.-based issuers. These issuers may adhere to their home country’s corporate governance practices, provided they meet certain Nasdaq mandates. Key requirements include:
- Publicly disclosing any Nasdaq rule not followed, along with a description of the home country practice adopted instead.
- Avoiding disproportionate restrictions or reductions in the voting rights of common shareholders, unless permitted by home country laws and subject to specific exceptions.
- Promptly notifying Nasdaq if an executive officer becomes aware of any noncompliance with exchange rules.
- Maintaining an audit committee that complies with the standards outlined below.
The Impact of Social Media on Market Manipulation
Social media has transformed the way information spreads, connecting billions of users instantly. While this connectivity fosters communication and engagement, it also creates fertile ground for market manipulation. Social media platforms, with their vast reach and rapid dissemination, can be exploited to spread misinformation, manipulate stock prices, and influence investor behavior. This article explores how social media facilitates market manipulation, the mechanisms behind it, and the broader implications for financial markets. Read More
Regulation of Financial Influencers: Navigating Securities Law Violations and SEC Enforcement
In the age of social media, financial influencers, or “finfluencers,” have become powerful voices in shaping investment decisions. With large followings on platforms like TikTok, Instagram, YouTube, and X, finfluencers offer financial advice, promote investment products, and share trading strategies, often in an engaging, relatable style. While they have democratized access to financial education, their activities have raised significant concerns about potential securities law violations. Regulatory bodies, particularly the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), have intensified efforts to address these issues, targeting misleading promotions, undisclosed conflicts of interest, and market manipulation. This article explores the risks of securities law violations by finfluencers, including within the cryptocurrency industry, the SEC’s regulatory responses, and real-life examples of enforcement actions. Read More
SEC Axes NYSE and NASDAQ Diversity and Climate Change Disclosures
In recent months, Nasdaq Stock Market LLC (“Nasdaq”) diversity rules and Securities and Exchange Commission (“SEC”) climate disclosures for public companies have been struck down. On December 11, 2024, the Court of Appeals for the Fifth Circuit struck down the proposed diversity disclosure rules by Nasdaq, and on March 27, 2025, the SEC voted to end its defense of the rules requiring disclosure of climate-related risks and greenhouse gas emissions. Read More
SEC charges William A. Justice, Brian D. Shibley, Randell R. Torno, and Keith A. Rosenbaum for their roles in the Phillip Verges $112 million pump-and-dump scheme
On July 1, 2025, the Securities and Exchange Commission (“SEC“) charged William A. Justice, Brian D. Shibley, and Randell R. Torno, each a former Chief Executive Officer (“CEO”) of a penny-stock public company, and Keith A. Rosenbaum, a disbarred California attorney, for their roles in an alleged $112 million pump-and-dump scheme orchestrated by Texas resident Philip Verges.
The SEC previously filed charges against Verges, as well as James D. Tilton, Jr., Robert F. Malin, Linda Malin, and Blue Citi, LLC, on September 26, 2023, for their roles in the alleged scheme, which involved the public securities of Alternet Systems, Inc. (“ALYI”), Priority Aviation, Inc. (“PJET”), Puration, Inc. (“PURA”), Vaycaychella, Inc. (“VAYK”), and WaterPure International, Inc. (“WPUR”).
The SEC’s complaint alleges that, from approximately June 2017 through June 2022, at Verges’ direction, the CEOs (Justice, Shibley and Torno), signed, or allowed their signatures to appear on, disclosure statements published by a penny stock trading platform that they reasonably should have known contained materially false and misleading information regarding who prepared the penny-stock issuers’ financial statements and also concealed Verges’s control of the penny-stock issuers. In particular, according to the SEC, Justice served as the CEO of VAYK, Shibley served as the CEO of PURA, and Torno served as the CEO of ALYI. Read More
Finra’s Role in IPOs for Nasdaq and NYSE Listings
Launching an Initial Public Offering (IPO) on the Nasdaq or NYSE is a significant milestone for companies aiming to access public capital markets. These prestigious exchanges offer visibility, liquidity, and credibility, but the process involves stringent regulatory oversight. A key player in this journey is the Financial Industry Regulatory Authority (FINRA), which ensures that underwriting terms for IPOs are fair and transparent. This article explores FINRA’s critical role in IPOs, including compliance with Rules 5110 and 5121, to assist issuers and underwriters in navigating the path to going public successfully.
FINRA’s Oversight in the IPO Process
When a company pursues an IPO and seeks listing on Nasdaq or NYSE, it must adhere to FINRA’s regulations, particularly if a FINRA member firm acts as an underwriter, dealer, or distributor—collectively known as a “Participating Member.” These members play a vital role in preparing offering documents, distributing shares, or providing advisory services. However, firms offering only independent financial advice are not considered Participating Members. Read More
A Beginner’s Guide to Listing on the OTCID Basic Market
On July 1, 2025, OTC Markets introduced the OTCID Basic Market, replacing the OTC Pink Market. This new platform offers a streamlined way for both public and private companies looking to go public to trade their securities while ensuring transparency for investors, brokers, and regulators. If you’re considering listing your company on the OTCID, this guide breaks down the key requirements and steps in a simple, approachable way. Read More
Understanding Form S-3: A Guide to Securities Registration
Form S-3 is a streamlined registration statement under the Securities Act, utilized by companies to register various securities for public offerings. This article explores what Form S-3 entails, its eligibility criteria, and how it functions, including its role in shelf registrations and financial reporting requirements.
What is Form S-3?
Form S-3 is a concise filing option that enables issuers to register a range of securities, such as common and preferred stocks, debt instruments, options, warrants, and guarantees. It supports both primary offerings (where the issuer sells its securities directly) and secondary offerings (where existing securities are resold by holders other than the issuer). The form accommodates immediate, future, or ongoing sales of securities, providing flexibility for issuers.
Unlike the more detailed Form S-1, Form S-3 relies heavily on incorporating information by reference from existing Exchange Act reports, such as Forms 10-K and 10-Q. This approach reduces the need for extensive disclosures in the prospectus, as it automatically updates with subsequent Exchange Act filings, ensuring the information remains current. Read More
Terminating SEC Reporting Obligations in Abandoned IPOs
An Initial Public Offering (IPO) represents a significant milestone for companies seeking to go public, particularly for smaller issuers targeting listings on exchanges such as the NASDAQ Capital Market or NYSE American. However, not all IPOs are successful, and the fallout from a failed or abandoned IPO can be substantial. This article examines why IPOs fail, the implications of SEC reporting obligations under Section 15(d) of the Securities Exchange Act of 1934, and the crucial steps companies can take to fulfill these obligations after an abandoned IPO. We’ll also dive deeper into the causes and consequences of failed IPOs to provide a comprehensive guide for businesses and investors. Read More
Navigating SEC Reporting: Suspension and Voluntary Filer Status Explained
When a public company is registered under Section 12 or subject to Section 15(d) of the Securities Exchange Act of 1934, it must file periodic reports like Forms 10-K, 10-Q, and 8-K with the Securities and Exchange Commission (SEC). These requirements stem from registering securities via a Form S-1 or F-1 under the Securities Act of 1933, as amended (the “Securities Act”), or through the Securities Exchange Act of 1934 (the “Securities Exchange Act”) via Form 10, 20-F, or 8-A.
Understanding how to suspend these obligations or transition to voluntary filer status can save companies time and resources. This guide breaks down the process in a clear, actionable way. Read More
What Is Form S-8? A Comprehensive Guide for SEC Registrants
Registration of securities on Form S-8 is a short-form registration statement under the Securities Act of 1933, as amended, providing significant benefits to small issuers. Form S-8 is available to register securities offered to employees and consultants under benefit plans under limited circumstances.
A registration statement on Form S-8 offers benefits to SEC reporting companies because it becomes effective upon filing and the shares registered may be issued without a restrictive legend. Whether you’re a legal advisor, a compliance professional, or part of a corporate finance team, understanding this form is key to executing employee stock plans efficiently and legally. Read More
SEC Staff Gears Up to Absorb PCAOB Duties if It’s Abolished
The Securities and Exchange Commission (SEC) is mapping out plans to take over the functions of the Public Company Accounting Oversight Board (PCAOB) should Congress eliminate the board through a budget reconciliation bill, Acting SEC Chief Accountant Ryan Wolfe said at a June 11 financial reporting conference.
The PCAOB is a nonprofit corporation established by the Sarbanes-Oxley Act of 2002. It was created in response to major corporate accounting scandals, such as those involving Enron and WorldCom, which undermined public confidence in the reliability of financial reporting and auditing.
The PCAOB’s primary mission is to oversee the audits of public companies, protecting investors and the public interest by promoting accurate, independent, and informative audit reports. It also has authority over audits of broker-dealers registered with the SEC. Its key functions include:
- Registering public accounting firms that prepare audit reports for public companies.
- Establishing auditing and related professional practice standards.
- Inspecting registered public accounting firms for compliance with laws and standards.
- Investigating and disciplining firms and associated individuals for violations.
This legislative move was included in a House Financial Services Committee budget proposal that narrowly passed in early May. It would dissolve the PCAOB, consolidate its responsibilities with the SEC, and terminate the audit board’s funding mechanism, which relies on accounting support fees. Read More
What is an Affiliate under SEC Rules?
Published June 25, 2025
In the complex world of U.S. securities laws, few concepts hold as much practical weight as the status of an “affiliate”. This seemingly technical label influences a wide range of pivotal decisions for companies and their shareholders, from the resale of shares to the selection of the appropriate registration form with the Securities and Exchange Commission (the “SEC“). Given that affiliate status can shape everything from Rule 144 transactions to a company’s qualification as a large accelerated filer, it’s crucial for companies and their management to have a clear understanding of what “affiliate” means under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”).
In this article, we’ll explore the definition of affiliate, what control looks like in practice, and the far-reaching implications of affiliate status in the day-to-day operations of companies and their shareholders. Read More
Nasdaq Initial Listing Guide: Capital Market Standards (2025)
Published June 24, 2025
Going public is a pivotal step for any company, marking the shift from private to public ownership. The Nasdaq Capital Market is a top choice for early-stage companies aiming to access public capital. Listing on the Nasdaq Capital Market isn’t just about prestige; it’s a strategic move to raise funds for growth, innovation, and expansion.
- A Nasdaq listing boosts a company’s visibility and credibility, attracting institutional investors and media attention. It also provides a transparent, market-driven valuation, making stock options more attractive to top talent.
- Public trading creates liquidity, giving founders, employees and early investors a clear exit strategy.
- The daily share price reflects real-time performance, pushing management to focus on long-term value.
- Being public means meeting high standards of financial health and governance, signaling readiness for global scrutiny.
- The process is demanding, but the rewards, capital, visibility and liquidity can transform a company’s future.
For many, joining NASDAQ is the essential next step toward becoming a market leader. It’s not just a milestone, it’s a launchpad for sustained growth.
Listing on NASDAQ follows a clear, structured timeline from application to trading. It begins with reserving a ticker symbol and submitting a formal application, along with supporting documents and the required fees. NASDAQ assigns a dedicated analyst to review the application and ensure all financial and governance standards are met. The analyst may request additional information, so prompt responses are crucial to avoid delays. Once requirements are satisfied, NASDAQ issues a conditional approval letter. Final approval depends on completing the public offering (usually done through a Form S-1 filing with the Securities and Exchange Commission) and meeting shareholder and market value thresholds. The company coordinates with NASDAQ to set its debut trading day after SEC clearance.
Below, we provide a full guide for getting listed on the Nasdaq Capital Market.
SEC Dealer Rule Collapse: Impact on Toxic Lenders & OTC Penny Stocks
Posted: June 13, 2025
Over the past 15 years, OTC issuers and investors have witnessed seismic changes across the microcap landscape. We’ve paid particular attention to OTC issuers in this blog. We’ve followed them from the high-profile stock promotions days, which made millions for company insiders and savvy traders in the early 2010s to the nightmare of the SEC’s amended Rule 15c2-11, which was aimed at eliminating shell companies and shutting down pump-and-dump schemes that defined the penny stock market in the 2010s and early 2020s.
This article explores the rise of toxic lenders, new SEC enforcement strategies, and the long-running battle over dealer registration rules that had a significant impact on the penny stock market. Read More
SEC Form 8-K Current Reports – SEC Reporting Requirements
A Form 8-K is a current report that public companies must file with the Securities and Exchange Commission (“SEC”) to report material events that could impact investors and the company’s stock price. The information required by Form 8-K is considered to be “material” information. This means that there is a substantial likelihood that a reasonable investor would consider the information important in making an investment decision.
Who must file Form 8‐K?
All U.S. “reporting” companies are responsible for filing a Form 8-K. Foreign issuers that report in the United States use a Form 6‐K, which has different requirements.
Under what circumstances must a Form 8‐K be filed?
Under applicable SEC rules for periodic reporting, an SEC reporting issuer must generally report certain current events on Form 8-K within four business days after a triggering event has occurred.
The following is a list of the events that trigger a filing, along with the corresponding Section and Item references from Form 8‐K: Read More
FINRA Corporate Action Requests
Corporate actions can range from making a change to a company’s name to issuing a dividend or restructuring the company through a merger or bankruptcy. The corporate action typically aims to influence a company’s stock value and shareholder rights. It also helps in the accomplishment of several objectives, such as raising capital, returning capital to shareholders, restructuring the company, and enhancing liquidity.
Federal securities regulations task the Financial Industry Regulatory Authority (“FINRA“) with processing corporate action announcement requests by companies that trade in the over-the-counter (OTC) marketplace. Corporate actions reportable to FINRA generally include name or trading symbol changes, stock splits, dividends, mergers and acquisitions, and domicile changes. Read More
Ronald Bauer Sentenced To 20 Months For Pump-And-Dump Scheme
On March 20, 2025, the United States Attorney for the Southern District of New York announced that RONALD BAUER was sentenced to 20 months in prison for manipulating seven different stocks in a “pump-and-dump” scheme designed to fraudulently inflate the value of BAUER’s own shares in those companies. BAUER pleaded guilty on November 4, 2024.
According to the Indictment, public filings, and statements made in court proceedings, BAUER, a Canadian-UK citizen, orchestrated multiple “pump-and-dump” schemes after previously being sanctioned by the SEC in 2006 when, without admitting or denying the allegations, BAUER consented to the entry of a judgment against him providing for injunctive relief, barring BAUER from serving as an officer or director of a public company or participating in an offering of penny stock for a period of five years, and payment of disgorgement of $840,000.
In his guilty plea, BAUER admitted to securities fraud involving seven issuers: Cantabio Pharmaceuticals Inc. (CTBO) (previously Lion Consulting Group (LIOC)); Virtus Oil and Gas Corp. (VOIL) (previously Curry Gold Corp. (CURGD)); Steampunk Wizards (SPWZ) (previously Freedom Petroleum (FPET) and now known as Tianci International Inc (CIIT)); Black Stallion Oil and Gas Inc. (BLKG) (previously Secure IT Corp.); PetroTerra Corp. (previously Loran Connection Corp (LRNC) and now known as Transportation and Logistics Systems Inc (TLSS)); Black River Petroleum (BRPC) (previously American Copper Corp. (AMCU) and now known as Viva Entertainment Group, Inc. (OTTV)); and Cyberfort Software Inc. (CYBF) (previously Patriot Berry Farms (PBFI)) (collectively, the “Issuers”). Read More
Risk Factors and Other Hot Topics for Public Companies to Consider in 2025
Each year, as companies prepare to draft their year-end Annual Reports on Form 10-K, changes in rules, regulations, and disclosure trends, along with new laws and executive orders from the current presidential administration, can add complexity and uncertainty. The following are key considerations and reminders for companies. Read More
SEC Axes NYSE and NASDAQ Diversity and Climate Change Disclosures
In recent months, Nasdaq Stock Market LLC (“Nasdaq”) diversity rules and Securities and Exchange Commission (“SEC”) climate disclosures for public companies have been struck down. On December 11, 2024, the Court of Appeals for the Fifth Circuit struck down the proposed diversity disclosure rules by Nasdaq, and on March 27, 2025, the SEC voted to end its defense of the rules requiring disclosure of climate-related risks and greenhouse gas emissions. Read More
When is a NYSE and NASDAQ Director independent? Independent Director Compliance
Both the Nasdaq Stock Exchange (Nasdaq) and the New York Stock Exchange (NYSE) impose a requirement that a majority of the board of directors of their listed companies be independent directors.
Recent litigation, including SEC enforcement actions, demonstrates that officers and directors of listed companies should carefully consider this requirement. The determination of director independence is a fact-based analysis that can make compliance difficult. The specific facts of the relationship and other factors can disqualify an otherwise independent director from participating in board decisions. Complicating the analysis further, directors can be considered independent for one purpose but not another. The status of independent directors must be reassessed based on a variety of events, which vary depending on the particular facts.
In an October 2024 SEC action by the SEC’s Division of Enforcement, the SEC targeted a former Chief Executive Officer and director who failed to disclose a close personal friendship with another company executive. The SEC alleged that this lack of disclosure resulted in misleading proxy disclosures concerning his independence. The defendant in the case agreed to a five-year officer and director bar and a $175,000 civil penalty in the action.
Another highly publicized case involves a Delaware Chancery Court’s Tornetta decision, which invalidated Elon Musk’s compensation package for 2018. In that case, his lack of independence was a significant factor in the court’s determination that the compensation package was invalid. Read More
SEC Provides Rule 506(c) Guidance for Accredited Investor Verification
On March 12, 2025, the Securities and Exchange Commission (the “SEC”) Division of Corporation Finance issued a no-action letter providing SEC guidance as to Rule 506(c) of Regulation D of the Securities Act of 1933 (the “Securities Act”). The SEC guidance provides private and public companies with an easier path to rely on Rule 506(c) and advertise and raise investment funds from investors publicly and privately pursuant to the Rule 506(c) exemption. Unlike Rule 506(c), Rule 506(b) of Regulation D places limits on general solicitation and advertising.
Regulation D provides an attractive alternative to the registration requirements of the Securities Act and is the most commonly used SEC exemption. Issuers in 506(c) offerings may engage in general advertising/solicitation, provided that the offering is limited only to accredited investors and the issuer takes reasonable steps to verify that each investor is accredited.
Accell Audit & Compliance, P.A. Permanently Revoked by the PCAOB
On March 11, 2025, the Public Company Accounting Oversight Board (“PCAOB”) issued an Order Instituting Disciplinary Proceedings, Making Findings, and Imposing Sanctions, permanently revoking the registration of Accell Audit & Compliance, P.A. (“Accell”).
The PCAOB is a nonprofit corporation created by the Sarbanes–Oxley Act of 2002 that regulates auditors of publicly traded companies, aiming to protect investors and promote the public interest by ensuring the accuracy and independence of audit reports. The PCAOB periodically reviews registered public accounting firms and issues Inspection Reports.
Accell was incorporated in Florida in 2009 and is headquartered in Tampa. The firm is licensed to practice public accounting by the Florida Board of Accountancy (license number AD66617), among other state boards. During the period covered by the Order, Accell annually served as the principal auditor for 28 issuer clients. Read More
The SEC retreats on its view of Crypto Assets as Securities
As expected, under the new Trump administration, the Securities and Exchange Commission (the “SEC“) has reversed course on its approach to crypto enforcement. Donald Trump became a very strong supporter of digital assets and cryptocurrencies during his presidential run and has recently gone all out with crypto ventures.
On January 18, 2025, Trump launched his own meme coin, TrumpCoin (TRUMP), and on January 20, 2025, Trump and his wife, Melania, launched the Melania Meme coin (MELANIA).
In January of 2025, the Trump family took control of a 60% stake in World Liberty Financial, a decentralized finance protocol launched during the fall of 2024. Barron Trump is listed as the project’s “DeFi (decentralized finance) visionary”, and Eric Trump and Donald Trump Jr. each have the title “Web3 ambassador.” Steve Witkoff’s son Zach Witkoff is a co-founder of the company. World Liberty Financial has been marketed as a portal for traders to invest in cryptocurrency and use those cryptocurrency assets for both borrowing and lending. The most prominent buyer of World Liberty Financial tokens is Chinese businessperson Justin Sun, who has reportedly spent at least $75 million on tokens through the platform since Trump was elected in November 2024. Sun is also a World Liberty Financial advisor now. As of mid-March of 2025, World Liberty Financial has raised over $550 million from two rounds of WLFI token offerings, with the Trump family receiving 75% of token sale revenue (roughly $400 million) and 60% from company operations. On March 21, 2025, World Liberty Financial announced its plans to launch USD1, a stablecoin redeemable 1:1 for the US dollar (USD).
On March 24, 2025, Trump Media and Technology Group Corp (Nasdaq: DJT) announced a partnership with Crypto.com to launch a series of exchange-traded funds and exchange-traded products (collectively, “ETFs”).
And more recently, on March 31, 2025, American Data Centers, a business led by two of the president’s sons, Eric Trump and Donald Trump Jr, announced that it will invest in American Bitcoin, a new mining company controlled by Hut 8.
A timeline of significant events, marking a stark reversal in the SEC’s stance toward crypto assets under the Trump Administration, includes the following: Read More
OTC Markets OTC Pink Current Reports – Material Corporate Events
In addition to the OTC Markets requirement that public companies on the OTC Pink Market file annual and quarterly reports, all companies on the OTC Pink Market are required to promptly disclose to the public any news or information regarding matters that may be material to the issuer and its securities even if that information is negative.
Persons with knowledge of such material events are considered to be in possession of material nonpublic information and may not buy or sell the issuer’s securities until or unless such information is made public.
If not included in the issuer’s previous OTC Markets filings and disclosures, or if the material events occur after the publication of such OTC Markets disclosures, the public company must publicly disclose such events by disseminating a news release within four (4) business days following their occurrence and posting such news release through an Integrated Newswire or the OTC Disclosure & News Service. Read More
Roadmap for a Successful Direct Public Offering
Preparing for a direct public offering or an initial public offering (“IPO”) or takes both a commitment of time and money. Unlike an Initial Public Offering, a direct public offering does not involve an underwriter. While it often takes a year or longer to plan for and complete an IPO, a direct public offering can be completed in as little as 90 days, using Form S-1. Unlike a Form 10 registration statement, Form S-1 will create unrestricted securities.
Money and time are not the only things required for a successful direct public offering. Having the right Going Public Attorney is critical to the direct public offering process. Some companies begin planning for their direct public offering months before the process begins. This allows the issuer to consider a variety of factors including confidential submission of the registration statement and other matters. During this time, the company prepares for the audit process, develops its plan of operations and obtains its shareholder base. Read More
Going Public and Direct Public Offerings Provide Benefits in 2025
Going public is still considered a benefit to issuers seeking to raise capital or obtain recognition of their business. Even in a down economy, private companies seek the perceived benefits of being publicly traded. While there are a variety of ways to create a publicly traded company, each comes with its own unique requirements and risks. The Direct Public Offering (“DPO”) eliminates many of the risks and expenses associated with reverse mergers into public shell companies. Issuers going public using a DPO also have fewer hurdles to obtaining electronic trading from Depository Trust Company (“DTC”).
Reverse merger companies often encounter DTC chills and global locks because of prior unregistered securities issuances and being public shells under prior management.
Types of Registered Offerings: Issuers going public with an Initial Public Offering (“IPO”) or DPO must file a registration statement pursuant to the Securities Act of 1933, as amended (the “Securities Act”). The most commonly used registration statement is Form S-1 for domestic issuers and Form F-1 for foreign issuers seeking to go public. Read More
Whistleblower Frequently Asked Questions
The SEC’s whistleblower program was established by Congress to incentivize whistleblowers to report specific, timely and credible information about possible federal securities laws violations.
The Commission is authorized to provide monetary awards to eligible individuals who come forward with high-quality original information that leads to an SEC enforcement action in which over $1 million in sanctions is ordered. The range for awards is between 10% and 30% of the money collected.
Since the whistleblower program’s inception in 2011, the SEC has awarded more than $2.2 billion to 444 individual whistleblowers. In 2024, the SEC awarded over $255 million to 47 whistleblowers. This was the third-highest annual amount awarded since the program began in 2011. Read More
Understanding IPOs
An “IPO” is the initial public offering by a company of its securities. In an IPO, the company offers and sells stock, most often its common stock, through an underwriter. When a company cannot locate an underwriter, it may sell its own shares using a direct public offering (“DPO“).
In the United States, these offerings are generally registered under the Securities Act of 1933, as amended (the “Securities Act”), and the shares are often but not always listed on a national securities exchange such as the New York Stock Exchange (the “NYSE”), one of the Nasdaq markets (“Nasdaq”) or the over-the-counter market (“OTC Markets”).
Upon the completion of an IPO, a company becomes a “public company,” subject to all of the regulations applicable to public companies, including those of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Read More