Commentary and musings on the complex, fascinating and peculiar world that is securities regulation
Friday, November 16, 2007
California Continues NASDAQ Listed Securities Exemptions Following SEC Certification of NASDAQ Stock Market as a National Securities Exchange
The former exemptions from issuer and nonissuer qualification requirements for securities listed or approved for listing on the NASDAQ National Market System were reestablished by the California Corporation Commissioner as exemptions for securities listed or approved for listing on the NASDAQ Global Market, following the SEC's certification of the NASDAQ as a national securities exchange with the new name of NASDAQ Global Market. The exemptions from issuer and nonissuer qualification requirements under Sections 25100(o) and 25101(a) of the California Securities Act, respectively, cover securities listed or approved for listing upon notice of issuance on either the NASDAQ Global Market and NASDAQ Global Select Market, the two tiers of the NASDAQ Global Market, as well as any warrant or right to purchase or subscribe to one of these securities.