Type:Notice
Citation:86 FR 7750
Reading Time:about 2 minutes
In July 2020, The Nasdaq Stock Market filed a proposed rule change with the Securities and Exchange Commission (SEC) to adjust listing requirements for maintaining a minimum number of beneficial holders and shares outstanding. The SEC initially had until February 3, 2021, to decide whether to approve or disapprove the change, but extended the deadline to April 4, 2021, to allow for a thorough review. This extension ensures the SEC has enough time to consider comments and make an informed decision about the proposal.
Simple Explanation
Nasdaq wanted to change some rules about how many people need to own a stock for it to stay listed, but the people in charge needed more time to think about it, so they're taking a little longer to decide.