The Nasdaq recently published a report, titled “The Promise of Market Reform,” which sets out proposed structural changes that are intended to relieve some of the burdens associated with being a public company. The report notes the decline in the number of U.S. public companies and notes the trend in U.S. IPOs and the increased reliance on private placements. The report suggests reform of the proxy process, by, among other things, raising the minimum ownership amount and holding period to introduce a proxy proposal and addressing proxy advisory firms. The report suggests various measures that would streamline corporate disclosures by eliminating quarterly reporting requirements, providing additional accommodations for smaller reporting companies, and reducing politically motivated disclosure obligations. The report notes that litigation reform also is needed. Various tax reform measures also are discussed as possible incentives to encourage investment. Finally, the report discusses possible market structure changes. Finally, the report addresses measures that are intended to promote long-termism.
The report can be accessed here: https://globenewswire.com/news-release/2017/05/04/978502/0/en/U-S-Financial-Markets-Require-Comprehensive-Market-Reform-to-Reignite-Job-Growth-and-Create-a-Healthier-Economic-Ecosystem.html