NYSE Amends Timely Alert Policy; Nasdaq Provides Guidance on Material News Disclosure at Market Close

November 13, 2015

By Matt Van Tassel, Supervisor, Global Disclosure Services, Business Wire


On Sept. 22, 2015, the NYSE sent to listed company executives a notification that it had amended Section 202.06 of the NYSE Listed Company Manual. The amendments to the NYSE’s Timely Alert Policy became effective on Sept. 28, 2015, and they can be viewed in detail on the SEC website and in the current NYSE manual.

The finalized amendments come after the NYSE proposed revisions to its requirements of listed companies, relating specifically to the timing of companies’ dissemination of material news. With the amendments now enacted, NYSE-listed companies must notify the exchange at least 10 minutes in advance of their release of material news, between 7:00 AM and 4:00 PM Eastern. Previously, this notification was only obligatory between 9:30 AM and 5:00 PM.

The amended rule also includes an advisory, which asks listed companies to refrain from disseminating material news until the publication of its official closing price on the NYSE, or 15 minutes after the close of trading (4:15 PM Eastern).

Nasdaq offered its own guidance this October regarding material news releases distributed around market close (4:00 PM Eastern). The guidance requests that Nasdaq-listed companies not distribute material information between 4:00 – 4:01 PM, until the Nasdaq closing cross is calculated. Best practice, the guidance states, is for companies to wait until 4:05 PM to disclose news, as this will “provide the maximum opportunity for the closing price to be fully disseminated before the release of news.”

Nasdaq also provided a reminder for companies to disclose changes to earnings release dates and dividend record and payment dates as this information may also be considered material.

Click here to view our original blog on the proposed NYSE requirements.
Click here to share this news on Twitter:  http://ctt.ec/y50gi

Business Wire & Bulldog Reporter Ring the Opening Bell at NASDAQ Today

June 25, 2010

Business Wire Bulldog Reporter Ringing NASDAQ Opening Bell

Business Wire was among the representatives for Bulldog Reporter’s Media Relations Summit, which rang the NASDAQ Stock Market Opening Bell today. Sarah Shepard, Regional Manager for Business Wire New York (third from left), was on hand with Fay Shapiro, Senior Vice President and Group Publisher of Bulldog Reporter, to celebrate with other Summit partners. Business Wire is an anchor sponsor for the one-day Summit, which will be next Monday, June 28 at the CUNY Graduate Center in New York as well as online as a virtual conference.

Business Wire Bulldog Reporter Ring NASDAQ Opening Bell

For more information about the Summit, visit http://www.infocomgroup.net/mrs2010. Come by and see us on-site at the conference or at Virtual Booth #8!


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