SEC Delays Action On NYSE Bid To Ease Direct Listing Limits - Law360

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By Tom Zanki (July 19, 2022, 7:56 PM EDT) -- The U.S. Securities and Exchange Commission has delayed action on a New York Stock Exchange proposal to relax pricing limits on direct listings, opting to further investigate whether such alternatives to initial public offerings would protect investors.

The SEC, in an order Monday, said it will launch further proceedings and solicit additional public comments. Regulators said more deliberation is needed because direct listings don't involve underwriters, meaning investors could be subjected to additional risks since traditional underwriters face legal liabilities if they don't vet an IPO.

"Less robust due diligence could result in reduced disclosure quality and lead investors to improperly...

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SEC Delays Action On NYSE Bid To Ease Direct Listing Limits - Law360
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