https://wccftech.com/sec-nyse-capital-direct-listing/

At the end of last month, the New York Stock Exchange filed an application with the Securities and Exchange Commission to let companies issue additional shares to the public for capital generation via a direct public offering. A direct public offering, as opposed to an initial public offering,  does not require the services of an investment bank or an underwriter to sell shares publicly. Now, the Commission's verdict is out today and it isn't in the NYSE's favor.

After the NYSE filed for the change last week, the proposal disappeared from the exchange's website today and it confirmed in a statement to CNBC that the SEC had rejected the idea. However, the exchange remains undeterred in trying to convince the regulatory body of the merits of letting companies generate capital through direct public offerings.