September 20, 2021

Volume XI, Number 263

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September 20, 2021

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Nasdaq And The SEC Both Can't Be Correct

Last year, Nasdaq proposed to adopt listing rules related to board diversity.  Earlier this year, Nasdaq proposed amendments to its proposals, stating:

"On February 26, Nasdaq filed an Amendment to propose modifications and clarifications to the Proposal based on comments submitted to the SEC."

Seeing Nasdaq's disclosure, I searched the SEC's website for the proposed amendments.  Meeting no success, I wrote to the SEC on to inquire about Nasdaq's proposed amendments.  Two weeks later, I received a response which stated:

"On March 10, 2021, the Nasdaq filed the Amendments you are seeking.  You can find the updated rule proposal at https://www.sec.gov/rules/sro/nasdaq/2021/34-91286.pdf."

Clearly, Nasdaq's statement is false if the SEC's statement is correct and the SEC's statement is false if Nasdaq's statement is correct.  

© 2010-2021 Allen Matkins Leck Gamble Mallory & Natsis LLP National Law Review, Volume XI, Number 84
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About this Author

Keith Paul Bishop, Corporate Transactions Lawyer, finance securities attorney, Allen Matkins Law Firm
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Keith Bishop works with privately held and publicly traded companies on federal and state corporate and securities transactions, compliance, and governance matters. He is highly-regarded for his in-depth knowledge of the distinctive corporate and regulatory requirements faced by corporations in the state of California.

While many law firms have a great deal of expertise in federal or Delaware corporate law, Keith’s specific focus on California corporate and securities law is uncommon. A former California state regulator of securities and financial institutions, Keith has decades of...

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