Nasdaq Applauds Signing of Senate Bill 29, Strengthening Texas' Standing as a National Leader in Corporate Governance and Innovation
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 $750 million in revenues in Texas and the Southeast region of the U.S., partnering with over 2,000 clients, approximately 800 of which are based in Texas.
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Nasdaq (NASDAQ:NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.
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