Nasdaq Crafts Extra Hurdles for China-Based Listing Hopefuls

2026-10373 — Registered Offering Reform

The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.

2026-10222 — Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies

The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.

2026-07651 — Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources

The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!

2026-11657 — Franklin Resources, Inc.

Franklin Resources, Inc. is asking the SEC for special permission to create investment groups just for its employees, letting them skip some usual rules. This change mainly affects Franklin’s workers and could make it easier and faster to manage these employee investment partnerships. If no one objects by July 6, 2026, the SEC will approve this exemption, which might save time and money for Franklin and its employees.

2026-11682 — Self-Regulatory Organizations; Texas Stock Exchange LLC; Notice of Filing of a Proposed Rule Change To Amend Rule 13.003 Related to Proxy Voting

The Texas Stock Exchange is changing its rules to make sure members vote uninstructed shares fairly by matching how other shareholders vote. This affects anyone holding TXSE-listed stocks and aims to make proxy voting more transparent and balanced. The new rule kicks in soon and could impact how shareholder meetings run, but it doesn’t involve extra costs.

2026-11683 — Self-Regulatory Organizations; Nasdaq Phlx, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Permit Non-Conforming Ratios

Nasdaq Phlx is shaking things up by letting Complex Orders trade with both regular and unusual ratios on their trading platform and auctions. This change affects traders using the Complex Order Book and aims to boost flexibility and trading options starting immediately. No extra fees or delays—just more ways to trade smarter and faster!

Previous: 2025-18947 — Self-Regulatory Organizations; the Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Modify Certain Initial and Continued Listing Requirements

The Nasdaq Stock Market wants to change some rules about which companies can start and keep their listings on the exchange. The SEC is taking extra time—until December 18, 2025—to review these changes carefully before making a decision. This affects companies aiming to be or stay listed on Nasdaq and could impact their ability to raise money or stay visible to investors.

Next: 2025-18949 — Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fees Schedule

Cboe EDGA Exchange is updating its fee rules by removing old language about charging 1% monthly late fees on overdue accounts. This change affects members of the exchange and cleans up the fee schedule without adding new charges. The update took effect immediately on September 23, 2025, making the fee schedule clearer and simpler.