Change in Ownership or Business Operations
FINRA also requires members to file an application for approval of any of the following changes to its ownership, control, or business operations:
- • A merger with another member—unless both are members of the New York Stock Exchange or the new entity will continue to be a member of the NYSE
- • An acquisition of another member, unless the acquiring member is a member of the NYSE
- • Acquisitions or transfers of 25% or more of the member’s assets—unless both the seller and acquirer are members of the NYSE
- • A change in a member’s equity ownership or partnership capital that results in one person or entity owning or controlling 25% or more of the equity or partnership capital
- • A material change in busines
