Of the 90 or so Red Chips, only about 10 meet stringent listing requirements outlined in the paper.
Pegasus said in a statement that that it is in compliance with all the Nasdaq Global Market listing requirements.
Some of the firms listing in London and Hong Kong were unable or unwilling to meet the listing requirements of American exchanges.
But Nasdaq has been hard hit by the bursting of the high-tech bubble, seeing some of its companies go out of business and others fail to meet its listing requirements.
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The London Stock Exchange, which also plans to shed its mutual status, has lost most of its regulatory functions, including, it was announced this week, the policing of listing requirements.
Many companies on the Bulletin Board are there after having been bounced from the major exchanges for failing to meet listing requirements: for falling below minimum market capitalization or for neglecting to mail out proxies.
They would rather see looser listing requirements at traditional stock exchanges (as is happening in Singapore), an Asia-wide second market linking many of the smaller exchanges, or even Nasdaq itself extended fully to Asia, with 24-hour trading and local listings.
In addition, Sprint has stated that Sprint and the other parties to the Equityholders' Agreement would have preemptive rights with respect to any issuance of exchangeable notes by Clearwire as contemplated by the DISH Proposal, and any issuance of such notes may also require Clearwire stockholder approval in accordance with the NASDAQ listing requirements.
GMI, based in New York and recently merged with the Corporate Library, a governance research firm, rates the practices of more than 4, 100 companies by examining pertinent public data, including regulatory filings, company websites and news services, to see how well they follow securities regulations, stock exchange listing requirements and various corporate governance codes and principles.
The Office of Financial Regulation (OFR) in the U.S. has turned the process of developing requirements and short-listing a vendor over to SIFMA before the regulatory requirements have been agreed.
London is a hot market because it has attracted listings from companies that want to avoid the onerous requirements for listing in New York due to Sarbanes-Oxley rules.
It was packed with Canadian companies in search of capital either through a direct listing (difficult, given profitability requirements at the Hong Kong stock exchange) or a partial investment by a cash-laden, resource-hungry Chinese firm.
If they are successful in listing even ten percent of these species, the piling up of time delays, studies, moratoria on drilling and other remediation requirements that come with every listing will inevitably result in the halting of oil and gas projects, wind farms, major solar installations, highway projects, industrial projects, housing developments and any other form of human progress that results in turning dirt.
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