Type:Notice
Citation:90 FR 10980
Reading Time:about 2 minutes
The Nasdaq Stock Market LLC has filed a new rule change with the Securities and Exchange Commission. This rule change requires that businesses must pay all previous fees owed to Nasdaq before they can appeal a decision to delist a security. Additionally, the appeal fees are explicitly stated as non-refundable. The proposal has been made public to gather feedback, and comments can be submitted via the SEC's website or by email.
Simple Explanation
The Nasdaq Stock Market now says that companies must pay any money they owe it before they can ask to save their spot on the stock market, and if they pay to ask this, they won't get that money back.