SEC Approves NASDAQ Rule Change Relating to Disclosure of Non-compliance with Listing Standards | Practical Law

SEC Approves NASDAQ Rule Change Relating to Disclosure of Non-compliance with Listing Standards | Practical Law

The SEC approved NASDAQ's proposed rule change that modifies certain disclosure requirements relating to non-compliance with listing standards.

SEC Approves NASDAQ Rule Change Relating to Disclosure of Non-compliance with Listing Standards

by PLC Corporate & Securities
Published on 05 Dec 2012 • USA (National/Federal)
The SEC approved NASDAQ's proposed rule change that modifies certain disclosure requirements relating to non-compliance with listing standards.
On December 3, 2012, the SEC issued an order approving a proposed rule change by NASDAQ. The rule change requires issuers that receive a notification of deficiency of continued listing standards to issue a more detailed public announcement on NASDAQ's concerns. The change also gives NASDAQ the authority to issue a public announcement when an issuer fails to do so. For more information on NASDAQ's proposed rule change, see Legal Update, NASDAQ Proposes Modified Disclosure Requirements Relating to Non-compliance with Listing Standards.