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Frequently Asked Questions
  What happens if an ETF is no longer compliant with Rule 6c-11?
Identification Number 1736

On or before December 22, 2020, all ETFs that meet the definition of "Exchange Traded Fund" in Nasdaq Rule 5704(a)(1)(A) will need to be compliant with Rule 6c-11. If it is determined that an ETF no longer complies with Rule 6c-11 and therefore no longer complies Nasdaq Rule 5704, Nasdaq will generally issue a letter of deficiency. The ETF will generally be given 45 days to submit a plan to regain compliance. If the plan is accepted, Nasdaq Staff can grant an extension up to an additional 180 days from the date of the original deficiency letter in order for the ETF to regain compliance. If the plan is not accepted or any extension granted by Nasdaq staff expires without compliance being achieved, Nasdaq staff will notify the issuer by phone and subsequently send a delisting letter. The ETP can request that an independent Panel review the Nasdaq staff's decision. More information about this Hearing Process is available here.  

Publication Date*: 4/10/2020 Mailto Link Identification Number: 1736
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