SEC Approves Nasdaq’s Proposed Rules Relating to Disclosures of Deficiencies in Listing Standards

 

On  December 3, 2012, the SEC approved Nasdaq’s proposed rule changes which (i) modify certain disclosure requirements to require issuers to publicly describe the specific basis and concern identified by Nasdaq when a listed issuer does not meet a listing standard; and  (ii) give Nasdaq the authority to make a public announcement when a listed issuer fails to make a public announcement.   See our November issue of Up to Date and our October 26th blog where we describe in more detail these Nasdaq rule changes.

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