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2021-02707 — Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Withdrawal of a Proposed Rule Change, as Modified by Amendment No. 1, To Amend IM-5101-1 (Use of Discretionary Authority) To Apply Additional or More Stringent Criteria to an Applicant or Listed Company Based on Considerations Related to the Company's Auditor or When a Company's Business Is Principally Administered in a Jurisdiction That Is a Restrictive Market
February 10, 2021
Type:Notice
Citation:86 FR 8937
Reading Time:about 2 minutes
The Nasdaq Stock Market LLC proposed a rule that would allow them to deny or impose stricter listing criteria on companies based on their auditors or if their business activities occur in countries with restrictive laws, such as those that limit information access. This proposal was submitted to the Securities and Exchange Commission (SEC), which spent several months reviewing it and considering amendments. However, on February 1, 2021, before a final decision was reached, Nasdaq chose to withdraw the proposed rule change.
Simple Explanation
Nasdaq wanted to make new rules to be more careful about which companies it lists on its market, especially if the companies' accountants are not trustworthy or if the companies do business in countries where it’s hard to get information. But before these rules could be finalized, they decided not to make these changes.
2024-28108 — Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Adopt a Provision That the Exchange Will Not Review a Compliance Plan Submitted by a Listed Company That Is Below Compliance With a Continued Listing Standard if the Company Owes Any Unpaid Fees to the Exchange and Will Instead Immediately Commence Suspension and Delisting Procedures if Such Fees Are Not Paid in Full
December 02, 2024
Type:Notice
Citation:89 FR 95283
Reading Time:about 2 minutes
The New York Stock Exchange (NYSE) has proposed a rule change regarding the compliance plans of listed companies that are below required standards. This change states that the NYSE will not review the compliance plans of companies if they have unpaid fees, and will start suspension or delisting if these fees are not paid on time. The rule was initially published for public comment, but no comments have been received. The Securities and Exchange Commission (SEC) has extended its review period to January 14, 2025, to allow more time to make a decision on the proposal.
Simple Explanation
The New York Stock Exchange wants to make a new rule that if a company doesn't pay its bills, it can't fix its problems to stay on the exchange, and instead, the exchange will immediately start the process to kick it out. The decision about this new rule has been delayed to give more time to think about it.

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