Inside the efforts to make US public markets more attractive
It has been well documented that the number of US public companies has halved since its peak in 1997, with many potential reasons cited, including an increase in access to private funding, an uptick in M&A, the competitiveness of other global markets, and the regulatory burdens placed on US public companies.
In May 2017 Nasdaq revealed its Blueprint to Revitalize Capital Markets. This 25-point plan was based on engagement with issuers, investors and regulators, according to Randall Hopkins, vice president and head of capital market reform and innovation at Nasdaq.
Some of the more high-profile proposals include regulating proxy advisory firms, updating short-seller disclosure requirements, making the public markets more tenable for small caps and raising the submission thresholds for shareholders to put forward a proposal during proxy season.
IR Magazine caught up with Hopkins at the NIRI national conference to discuss Nasdaq’s advocacy efforts in Washington, DC. Hopkins also touches on how receptive the SEC’s leadership has been to this dialogue and the importance of a joined-up approach between industry voices like Nasdaq, NIRI and others.
Click here to view the full video with Hopkins. Subscribe to the playlist to receive notifications when a new video from the NIRI national conference is uploaded.