NYSE Changes Press Release Rules
A quick post today about some of the rule changes that are occurring in the major financial markets. First, the NYSE is finally updating their policy on information dispersal for listed firms to match that of the SEC's. Previously the NYSE required firms to distribute their news via email or fax to Bloomberg, AP, et al. Now firms will be able to disseminate information by an Regulation FD compliant method. Now corporate websites will be sufficient channels of communication, which is simply common sense given today's communication capabilities.
NASDAQ had already enabled enacted similar rules. Additionally, NASDAQ has enacted a number of rule changes resulting from the current economic conditions. For example, firms will now have to be trading below the delisting threshold for 30 consecutive days and once that occurs will have 180 days to regain compliance.
For a comprehensive description of all of NASDAQ's changes, click here.
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