Nasdaq Applauds Signing of Senate Bill 29, Strengthening Texas’ Standing as a National Leader in Corporate Governance and Innovation
Rhea-AI Summary
Nasdaq (NDAQ) has expressed strong support for Texas Senate Bill 29, which was signed into law by Governor Abbott. The legislation codifies the Business Judgment Rule and aims to enhance predictability in corporate governance litigation. Nasdaq's Executive Vice Chairman Ed Knight participated in the signing ceremony alongside Texas officials.
The bill strengthens Texas' position as a hub for corporate formation and business growth. Notably, Nasdaq has announced a new regional headquarters in Dallas and currently hosts over 200 Texas-based listed companies. The company generates more than $750 million in revenues in Texas and the Southeast region, partnering with approximately 800 Texas-based clients out of 2,000 total regional clients.
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News Market Reaction
On the day this news was published, NDAQ declined 0.63%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AUSTIN, Texas, May 14, 2025 (GLOBE NEWSWIRE) -- Today, Nasdaq issued a statement in support of Texas Senate Bill 29 after Governor Abbott signed the bill into law. This legislation, which codifies the Business Judgment Rule and promotes predictability in corporate governance litigation, enhances Texas’ competitiveness as a jurisdiction for incorporation and business growth. Nasdaq's Executive Vice Chairman Ed Knight joined Governor Abbott, leadership from the Texas legislature, and other Texas business community leaders for the signing ceremony.
“Senate Bill 29 is a milestone for corporate governance in Texas. By embracing smart, innovation-focused regulation like SB 29, Texas is showing the world what it means to lead on economic growth and modern, clear governance principles,” said Ed Knight, Executive Vice Chairman of Nasdaq. “We commend Senator Bryan Hughes, Representative Morgan Meyer, and Governor Greg Abbott for advancing legislation that strengthens Texas’ position as a global center for capital formation.”
Texas has become a national model for innovation-driven policy that balances economic growth with investor confidence. The passage of SB 29 aligns with Nasdaq’s mission to promote fair, efficient, and accessible capital markets, and reinforces Texas as a destination for corporate formation and public company investment. Nasdaq has a longstanding history of advocating for clients by minimizing the complexity associated with navigating the public markets. Its efforts for corporate issuers encompass addressing issues such as the SEC’s proposed climate disclosure rules, cyber disclosure rules, proxy advisory reform, AI regulation, PCAOB reforms, and emerging growth company timelines.
“At Nasdaq, we are honored to have been part of the Texas community for nearly two decades” said Rachel Racz, Senior Vice President, Head of Listings for Texas, Southern U.S. and Latin America at Nasdaq. “We remain committed to advocating for our clients on both a federal and local level and supporting the bold Texas leadership that continues to power our state's dynamic economy.”
Nasdaq’s presence in Texas continues to expand. The company recently announced the opening of a new regional headquarters in Dallas, serving as a Southeast hub and convening space for its Texas-based clients. Nasdaq currently is home to over 200 listed companies headquartered in the state and generates over
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Cautionary Note Regarding Forward-Looking Statements
Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to, information regarding our regional presence. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These factors include, but are not limited to, Nasdaq’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, U.S. and global competition, and other factors detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
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