Overview

• Nasdaq submitted the proposal to the SEC and said it will implement the changes promptly if approved, with a 30‑day window for IPOs already in process to proceed under existing rules.
• New listings using the net income standard would need a minimum $15 million market value of public float, up from $5 million.
• Companies with listing deficiencies and a market value of listed securities below $5 million would face a faster path to suspension and delisting.
• Issuers that operate primarily in China would be required to raise at least $25 million in IPO proceeds, reviving a prior threshold and reflecting higher compliance concerns observed in very small deals.
• Nasdaq said the package follows a review of trading patterns associated with potential pump‑and‑dump schemes and that it will continue referring suspicious activity to the SEC and FINRA while deepening regulatory cooperation.