United States: Listing Rules & Flotation

Touraj Parang, COO of Serve Robotics, shares hard-won lessons from building a sidewalk delivery robot company through 300 venture rejections, near-bankruptcy, and an unconventional path to Nasdaq.

Companies preparing for IPOs, direct listings, or SPAC transactions face heightened scrutiny of their executive compensation programs from institutional investors and proxy advisory firms.

We recently published a client alert on the SEC’s proposal to eliminate the longstanding “baby shelf” limitations and significantly expand access to Form S-3 and shelf registration for public companies.

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").

The FCA has published final notices for Carillion and its former CEO for breaches of the Listing Rules and the UK Market Abuse Regulation (MAR). The publication of the notices follows the withdrawal by the CEO...

Compensation clawbacks can raise difficult, and often adverse, tax issues for employees and other service providers. Specifically, for clawbacks that are effected on a gross...

Companies that are listed on the Nasdaq Stock Market or the New York Stock Exchange are required to adopt a clawback policy that provides for the recovery from any current or former...

In August, the SEC posted a proposed Nasdaq rule change that would establish listing standards related to notification and disclosure of reverse stock splits.