What are the fees and timetable for a corporate governance interpretation?
Pursuant to Listing Rule 5601, a company is required to submit to NASDAQ a non-refundable fee in connection with a request for a written interpretation of the listing rules. NASDAQ offers two levels of service – regular timing and expedited. The fee for the regular timing is $5,000, and for the expedited, $15,000. The response times, as measured from the date that NASDAQ receives all information necessary to respond, are typically: (1) for the regular timing, within four weeks, and (2) for the expedited, less than four weeks, but at least one week. While it typically takes several weeks to issue an interpretative letter, NASDAQ will make every effort to accommodate a company’s timing needs. Nonetheless, depending on the complexity of the issues, and the amount of time the company takes to respond to questions, NASDAQ may not be able to respond in the requested time frame. NASDAQ does not impose fees for requests related to initial listing on The NASDAQ Stock Market or requests for a fi
NASDAQ will provide a written interpretation of the application of NASDAQ listing rules to its listed companies. Pursuant to Listing Rule 5602, a company is required to submit to NASDAQ a $15,000 non-refundable fee in connection with such a request. While NASDAQ will make every effort to accommodate a company’s timing needs, a response to a request for a written interpretation typically takes four weeks from the date NASDAQ receives all information necessary to respond to the request. If a company requires a response by a specific date, it should state the date in its request for the written interpretation and NASDAQ will attempt to respond by that date. Nonetheless, depending on the complexity of the issues, and the amount of time the company takes to respond to questions, NASDAQ may not be able to respond in the requested time frame. However, if we determine that an interpretative response was excessively delayed, we may, at our discretion, refund the fee.
