Yesterday was a busy one for just about everything. But we’ll tailor this recap to market structure. Here’s what you probably didn’t but just in case you did miss:
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The SEC kicked off the day with an earlier-than-expected decision to amend the definition of an accredited investor, thereby opening up the private markets to more investors that do not meet the legacy wealth test, despite objections from two commissionershttps://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/private-offerings-opened-up-to-new-universe-of-investors-with-expanded-sec-rule-60090692 …
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An hour later, the SEC passed another set of rules by a 3-2 vote to loosen certain disclosure rules around nonfinancial metrics such as a company’s risk factors, while also outlining new human capital disclosure rules. https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/sec-green-lights-new-human-capital-disclosures-60094222 …
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Later in the day,
@NYSE got the SEC’s approval to allow for capital raises in direct listings. The move is expected to make the IPO alternative more attractive to a new realm of companies that wouldn’t have fit the mold for a direct listing previously.https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/regulators-approve-nyse-plan-to-allow-capital-raises-in-direct-listings-60098146 …1 reply 0 retweets 0 likesShow this thread -
Then, to top it off, the SEC approved
@IEX’s D-Limit proposal soon after.https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/iex-receives-sec-s-ok-on-new-order-designed-to-improve-displayed-liquidity-60093743 …1 reply 1 retweet 0 likesShow this thread -
That’s all I have, but I’m sure there was more I missed. As for today, I guess we shall see. And tomorrow? The 14th U.S. stock exchange in
@LTSE begins its launch process.1 reply 1 retweet 3 likesShow this thread
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