If a foreign private issuer received an exemption from NASDAQ under NASDAQs prior exemptive rules, is it required to submit a letter relating to its non-conforming practices?
No. Such a company may continue to rely on previously granted exemptions and need not submit a letter, unless it determines to adopt another non-conforming practice. A company may not, however, rely on a previously granted exemption if the listing requirement to which the exemption applies was changed after the exemption was provided. A company relying on a prior exemption from NASDAQ is still required to disclose in its annual reports filed with the Securities and Exchange Commission each requirement of Listing Rule 5600 that it does not follow and the alternative home country practice it does follow.
No. A foreign private issuer may continue to rely on previously granted exemptions and need not submit a letter to NASDAQ, unless it determines to adopt another non-conforming practice. A company may not, however, rely on a previously granted exemption if the listing requirement to which the exemption applies was changed after the exemption was provided. A company relying on a prior exemption from NASDAQ is still required to disclose in its annual reports filed with the Securities and Exchange Commission each requirement of Listing Rule 5600 that it does not follow and the alternative home country practice it does follow.
Related Questions
- If a foreign private issuer received an exemption from NASDAQ under NASDAQs prior exemptive rules, is it required to submit a letter relating to its non-conforming practices?
- What notification is required to be submitted to NASDAQ when a foreign private issuer relies on an exemption to the corporate governance requirements?
- What disclosure is required by a foreign private issuer that follows a home country practice in lieu of one or more of the Listing Rules?
