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Canadian Update: Key Considerations for Cross-listing to U.S. Exchanges

Haynes Boone published an analysis of MJDS (Multijurisdictional Disclosure System) requirements for Canadian companies seeking to list on U.S. national securities exchanges. The article covers MJDS eligibility criteria (including a $75M public float threshold and 12 months of Canadian reporting history), Nasdaq's January 2026 rule change permitting ADR listings by Canadian issuers, and SEC's May 2026 order exempting qualifying Canadian FPIs from new Section 16(a) reporting obligations enacted under the Holding Foreign Insiders Accountable Act.