SEC Extends Comment Period for Nasdaq Listing Rule

Regs.gov: Securities and Exchange Commission

Published January 13th, 2026

Detected March 17th, 2026

Summary

The SEC has extended the comment period for a proposed rule change by Nasdaq to establish a new continued listing requirement of at least $5 million in market value of listed securities. The new deadline for the SEC to act on the proposal is April 29, 2026.

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What changed

The Securities and Exchange Commission (SEC) has extended the deadline for reviewing Nasdaq's proposed rule change to implement a new continued listing requirement. The proposal, filed by Nasdaq on January 13, 2026, seeks to establish a minimum market value of listed securities at $5 million. The original 45-day comment period, which would have concluded on March 15, 2026, has been extended by the SEC to April 29, 2026, to allow for further consideration of the proposal and related issues.

This extension signifies that the SEC is giving more time to evaluate the potential impact of the new listing standard. Public companies listed on Nasdaq should monitor the SEC's final decision, as this change could affect their continued listing status if they fall below the proposed $5 million market value threshold. The SEC will either approve, disapprove, or initiate proceedings to disapprove the rule by the new deadline of April 29, 2026.

What to do next

Monitor SEC's final decision on Nasdaq's proposed listing rule by April 29, 2026.
Assess current market value of listed securities against the proposed $5 million threshold.

Source document (simplified)

Content

March 11, 2026. On January 13, 2026, The Nasdaq Stock Market LLC (“Nasdaq” or “Exchange”) filed with the Securities and Exchange Commission
(“Commission”), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”) (1) and Rule 19b-4 thereunder, (2) a proposed rule change to adopt a new Market Value of Listed Securities continued listing requirement of at least $5 million.
The proposed rule change was published for comment in the
Federal Register
on January 29, 2026. (3)

Section 19(b)(2) of the Act (4) provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period
up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for
so finding or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule
change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should
be disapproved. The 45th day after publication of the notice for this proposed rule change is March 15, 2026. The Commission
is extending this 45-day time period.

The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so
that it has sufficient time to consider the proposed rule change and the issues raised therein. Accordingly, the Commission,
pursuant to Section 19(b)(2) of the Act, (5) designates April 29, 2026, as the date by which the Commission shall either approve or disapprove, or institute proceedings
to determine whether to disapprove, the proposed rule change (File No. SR-NASDAQ-2026-004).

For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. (6)

Vanessa A. Countryman, Secretary. [FR Doc. 2026-05017 Filed 3-13-26; 8:45 am] BILLING CODE 8011-01-P

Footnotes

(1) 15 U.S.C. 78s(b)(1).

(2) 17 CFR 240.19b-4.

(3) See Securities Exchange Act Release No. 104688 (Jan. 26, 2026), 91 FR 3935. Comments received on the proposed rule change are
available at https://www.sec.gov/rules-regulations/public-comments/sr-nasdaq-2026-004.

(4) 15 U.S.C. 78s(b)(2).

(5) 15 U.S.C. 78s(b)(2).

(6) 17 CFR 200.30-3(a)(31).