New NASDAQ Rule Approved by the SEC, to be Published in the Federal Register on July 27

The SEC has approved NASDAQ's proposed rule that requires all companies to maintain a market value of listed securities (MVLS) of at least $5m.

**SUMMARY**

* If MVLS falls below $5M for 30 consecutive trading days, company will be delisted.
* ZERO cure time. No compliance periods when a company goes 30 days below $5M MVLS. Automatic delisting.
* Companies can appeal. However, the appeal will not delay the suspension of trading. Companies will still be suspended by NASDAQ and most likely shift to OTC during the appeal process.
* The hearing panel has one of two options after an appeal:
* Reverse the delisting if NASDAQ made an error.
* Grant up to 180 days for the company to demonstrate that it meets all initial listing requirements. Note that these are much stricter thresholds than continued listing requirements (ex. $4 minimum bid price vs $1).

New rule will take effect after the approval is published in the Federal Register.

[https://public-inspection.federalregister.gov/2026-15060.pdf](https://public-inspection.federalregister.gov/2026-15060.pdf)