On January 29, 2010, the SEC approved amendments to Nasdaq’s listing requirements extending the length of certain compliance periods and increasing the time available for a company to provide a plan to regain compliance with certain listing standards. Nasdaq stated that the prior compliance periods were insufficient, particularly in this economic environment. The amendments will harmonize the timeframes for Nasdaq’s price-related continued listing requirements. The amendments will:

  • lengthen the period that a company would need to be below the market value of listed securities requirements before being considered non-compliant from 10 to 30 consecutive trading days
  • extend the amount of time a company has to regain compliance with the market value of listed securities and market value of publicly-held shares requirements from 90 to 180 days
  • in cases where a company can provide Nasdaq with a plan to regain compliance, such as when a company fails to meet the minimum requirements for stockholders’ equity, the number of publicly-held shares, or the number of shareholders, the amendments will:
    • increase the number of calendar days a company has to present its plan from 15 to 45, and to permit the staff to grant up to a five-day extension of this period upon a showing of good cause
    • increase from 105 to 180 the number of calendar days for which the staff can grant an extension of time to regain compliance from its initial notification of non-compliance

http://www.sec.gov/rules/sro/nasdaq/2010/34-61446.pdf