News Formal

SEC probing listings of Slack and other tech unicorns on the NYSE: WSJ - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The SEC is reportedly investigating how Slack and other tech unicorns were opened for trading on their first day as public companies

The probe is focusing in particular on how trading was handled on the first day those companies went public, the report says, though the Journal says that it could not learn what kind of misconduct in particular the SEC may suspect.

The only company specifically named as one of the unicorns the SEC is looking at in its probe is Slack —As part of the probe, SEC staff has sent a letter to Citadel Securities asking for information on how it opened Slack's stock for trading on June 20, when its direct listing hit the markets, the report says.

A spokesman for the NYSE tells Business Insider that the "NYSE places a premium on transparency, fair access and robust price discovery in helping companies access the public markets." The SEC declined to comment and spokespeople for Slack and Citadel Securities were not immediately available for comment.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

👀

Maybe the SEC dislikes direct listings vs IPOs. Wonder why?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SEC reportedly investigating Slack and other unicorns' market debuts on the NYSEThe Securities and Exchange Commission is investigating the market debuts of Slack and other unicorns, according to the Wall Street Journal.
Source: CNBC - 🏆 12. / 72 Read more »

MetLife agrees to $10 million SEC fine to settle alleged accounting errors - Business InsiderMetLife assumed that annuitants 'had died or otherwise would never be found' if they didn't respond to mailed letters sent more than five years apart. What a joke of a fine. Insurance companies are one of the biggest scammers out there.
Source: BusinessInsider - 🏆 729. / 51 Read more »

SEC reportedly investigating Slack and other unicorns' market debuts on the NYSEThe Securities and Exchange Commission is investigating the market debuts of Slack and other unicorns, according to the Wall Street Journal.
Source: CNBC - 🏆 12. / 72 Read more »