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SEC Seeks Comment on NASDAQ's Proposed Rule Changes
On October 19, 2012, the U.S. Securities and Exchange Commission published Federal Register notice that NASDAQ has filed proposed rule changes with the SEC. NASDAQ's proposed rule changes modify certain disclosure requirements to require listed companies to publicly describe the specific basis and concern identified by NASDAQ when a company does not meet a listing standard. The proposed rule changes also give NASDAQ the authority to make such public announcements when a listed company fails to do so. All public comments on these proposed rule changes should be submitted to the SEC on or before November 9, 2012.
Click here to read the SEC's Federal Register notice of proposed rule changes