07 Jan 2025
Registration Requirements under Section 12 of the Exchange Act
Unlike registration of the offer and sale of securities under the Securities Act, Section 12 of the Exchange Act involves registration of an entire class of securities if conditions are met, including listing on a national securities exchange for Section 12(b) and crossing minimum asset and securityholder thresholds for Section 12(g). An issuer with securities registered under Section 12 becomes a reporting company subject to periodic and current reporting, beneficial ownership, proxy, and other obligations and requirements under the Exchange Act. Read this practice note to gain an understanding of the requirements for each of these sections, determining the number of record holders, and more.
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