On September 15, 2025, the Staff of the Division of Corporation Finance of the Securities and Exchange Commission said that it will not recommend enforcement action if Exxon Mobil Corporation implements its proposed Retail Voting Program. See the no-action letter available here. Exxon’s proposed program would allow its retail shareholders to set standing voting
Simon J. Wood
Simon J. Wood is an associate in the Corporate Department and a member of the Capital Markets Group. His practice focuses on IPOs, SPAC transactions, and Section 13 and Section 16 filings. Since joining Proskauer, Simon has worked on a variety of SPAC transactions including the IPOs of Kimbell Tiger Acquisition Corp., Juniper II Corp., Israel Acquisitions Corp, and more. He is currently part of the Proskauer team advising Goal Acquisitions Corp. in its business combination with Digital Virgo Group.
Simon earned his J.D. degree from Harvard Law School, where he worked on the Journal of Law and Technology and was part of the Cyberlaw Clinic.
Prior to joining Proskauer, Simon was an associate in the New York offices of Kirkland & Ellis.
Nasdaq Proposes to Allow Trading of Tokenized Securities
On September 8, 2025, the Nasdaq Stock Market submitted a proposed rule change to the Securities and Exchange Commission that, if implemented, would allow for the trading and settlement of tokenized securities. Nasdaq points out that even traditional securities are traded in electronic format, and that it should not be a stretch to allow settlement using…
SEC Releases Unsurprising But Ambitious Spring 2025 Regulatory Agenda
- Crypto assets:
SEC Proposes Extensive New Rules Applicable to SPACs and de-SPAC Transactions
On March 30, 2022, the Securities and Exchange Commission (the “SEC”) proposed a set of rules and amendments governing special purpose acquisition companies (“SPACs”) that will, if adopted, impose significant new regulatory hurdles for SPAC-related transactions, as well as expand potential bases for liability. The SEC states that the new rules are intended to increase…