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NYSE Proposes Uniform Method for Companies to Provide Notice of Events
Practical Law Legal Update 9-519-4748 (Approx. 3 pages)
NYSE Proposes Uniform Method for Companies to Provide Notice of Events
by PLC Corporate & Securities
| Published on 15 May 2012 • USA (National/Federal) |
On May 14, 2012, the NYSE issued a proposed rule change providing that companies required by a provision in the NYSE's Listed Company Manual to give notice to the Exchange must do so by web-based communication. The proposed rule change would also reduce the number of copies of a proxy statement a listed company must submit to the NYSE from six to three.
On May 14, 2012, the NYSE issued a proposed rule change providing that companies required by a provision in the NYSE's Listed Company Manual to give notice to the Exchange must do so by web-based communication. This change will make notice requirements for all NYSE rules consistent.
Notice must be made using either:
- An e-mail address designated by the NYSE.
- Egovdirect.com, a web portal operated by the NYSE.
The proposed rule change would also:
- Reduce the number of copies of a proxy statement a listed company must submit to the NYSE from six to three.
- Change the name of the item "Shareholders' Meeting Notice" to "Shareholders' Meeting/Notice of Record Date."
- Change the due date for the item "Shareholders' Meeting/Notice of Record Date" to conform with the "Dividend Notification" due date.
For more information on disclosure of nonpublic information to the NYSE, see Practice Note, Disclosing Nonpublic Information: NYSE Disclosure Rules. For more information on proxy statements, see Practice Note, Proxy Statements.