28 Feb 2025
💰Nasdaq Proposal on Appeal Fees and Delisting Requirements
Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Modify Certain Provision Regarding Payments of Appeal Fees
Summary
The Securities and Exchange Commission announces Nasdaq's proposed rule change to amend Listing Rules concerning appeal fees related to delisting determinations. The new rules stipulate that issuers must clear all prior fees before initiating an appeal and state that these fees are non-refundable. The proposal is open for public comment for 60 days.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed rule changes by Nasdaq require that issuers pay all prior fees owed before appealing any delisting determination, which impacts businesses' compliance and financial planning. The clarification that appeal fees are non-refundable also adds financial implications for issuers concerned about delisting.