SEC Approves Nasdaq Plan To Raise Reg A+ Standards

Law360 (July 1, 2019, 8:57 PM EDT) -- The U.S. Securities and Exchange Commission on Friday approved a Nasdaq proposal requiring companies that go public using so-called Reg A+ offerings to have at least two years' operating history, an attempt to raise listing standards following several setbacks involving such offerings.

The SEC said Nasdaq’s plan to require two years' operating history may help assure that such companies are “more seasoned” and “ready for the rigors of being a public exchange-listed company.” Nasdaq’s new rule takes effect within 30 days.

“The Commission notes that, as Nasdaq stated in its proposal, the additional two-year operating history requirement can help to assure...

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