Analyzing the SEC’s ‘Innovation Exemption’ for Tokenized NMS Stock

On November 2, Skadden hosted the webinar “Analyzing the SEC’s ‘Innovation Exemption’ for Tokenized NMS Stock,” which examined the SEC’s September 2026 order permitting limited trading of tokenized National Market System stocks on Tokenized Securities Venues. Panelists addressed the 30-day window for issuers to object to a tokenization notice, factors that should inform whether to object, issuer readiness, potential impacts on shareholder activism and shareholder rights, and voting considerations. Skadden speakers included New York blockchain and digital assets co-head Daniel Michael; New York shareholder engagement and activism head Elizabeth Gonzalez-Sussman; Washington, D.C.  M&A partner Marc Gerber; Washington, D.C. white collar defense and investigations counsel Aaron Washington; and Chicago SEC reporting and compliance associate Khadija Messina.