October 2022

Public Company Responsibilities Memorandum


This Practical Guidance template memorandum summarizes the obligations, restrictions, and liabilities that apply to a newly public company and its directors and officers under the federal securities laws. Topics addressed include the company’s reporting and corporate governance obligations, as well as reporting obligations and other restrictions applicable to the company’s directors and officers.

This template includes practical guidance and drafting notes. This template memorandum assumes that the company is a US company with common stock listed on a national securities exchange. You should tailor the memorandum to the extent any assumptions do not apply and distribute it shortly before the company completes its initial public offering.