referencelibrarybanner
Listing Center Rulebook Relocation Banner
Reference Library - Advanced Search
Find
 


Library 



 
Timeframe
Category
 
Sub-Category
** To make multiple selections, select the first criterion and then press and hold the Ctrl Key **
 
1- 1 of 1 Search Results for:
Libraries:   FAQs - Listings
Filters:   Board Composition/Committee Assignments;
 
Search   Clear


Expand All
Printer Friendly View
Mailto Link 
Page: 1 of 1
Frequently Asked Questions
  Under what circumstances is a cure period not provided to remedy corporate governance deficiencies?
Identification Number 115
As set forth in Listing Rule 5810(c)(2), a company is not provided a cure period and must provide a plan of compliance for violations of, among other things:
    • Majority independent board or audit committee composition requirements due to more than one vacancy on the board, or because more than one director ceases to be independent;
    • Code of Conduct;
    • Quorum;
    • Review of Related Party Transactions;
    • Shareholder Approval; and
    • Voting Rights.
The plan of compliance is due 45 days from the date that the company is notified. After reviewing the company's plan of compliance, Nasdaq may grant the company an extension of time, up to 180 calendar days from the date of the notification, to regain compliance. Note that, unlike the cure period under Listing Rule 5605, this 180 day extension is not automatic. Extensions of time may vary and are not granted in all cases.
 
Publication Date*: 7/31/2012 Mailto Link Identification Number: 115
material_search_footer*The Publication Date reflects the date of first inclusion in the Reference Library, which was launched on July 31, 2012, or a subsequent update to the material. Material may have been previously available on a different Nasdaq web site.
Page: 1 of 1
home_footer_links
Copyright_statement
App Store       Google Play       Listing Center Content RSS Feed
The Nasdaq Stock Market, Nasdaq, The Nasdaq Global Select Market, The Nasdaq Global Market, The Nasdaq Capital Market, ExACT and Exchange Analysis and Compliance Tracking system are trademarks of Nasdaq, Inc.
FINRA® and Financial Industry Regulatory Authority, Inc.® are registered trademarks of Financial Industry Regulatory Authority, Inc. OTCBBTM and OTC Bulletin BoardTM are trademarks of FINRA