On July 22, 2026, the Securities and Exchange Commission (the “SEC”) approved The Nasdaq Stock Market LLC (“Nasdaq”) rule that would require companies listed on the Nasdaq Global Select, Global, or Capital Market to maintain a minimum market value of listed securities of at least $5 million (the “MVLS Requirement”). On July 29, 2026, the SEC issued a letter to The Nasdaq Stock Market LLC (“Nasdaq”) notifying Nasdaq that it had received notices of intention to petition for review of delegated action in accordance with its Rules of Practice. As a result, implementation of the MVLS Requirement is stayed until the SEC orders otherwise.
If you have any questions about the MVLS Requirement, please contact a member of Harter Secrest & Emery LLP’s Securities and Capital Markets team.