What is a Public Reprimand letter?
A Public Reprimand letter is issued when NASDAQ Staff determines that a company has violated NASDAQ rules, but does not believe the circumstances warrant delisting the company. A Public Reprimand is generally issued to address inadvertent violations of NASDAQ’s corporate governance rules. A company that receives a Public Reprimand letter must publicly disclose receipt of the letter by issuing a press release and filing a Form 8-K. A company that receives a Public Reprimand letter has the opportunity to appeal NASDAQ’s determination to a Hearings Panel. See Hearings Process for additional information.
A Public Reprimand letter is issued when NASDAQ Staff determines that a company has violated NASDAQ rules, but does not believe the circumstances warrant delisting the company. A Public Reprimand is generally issued to address inadvertent violations of NASDAQ’s corporate governance rules. A company that receives a Public Reprimand letter must publicly disclose receipt of the letter by filing a Form 8-K, where required by SEC rules, or by issuing a press release disclosing receipt of the Reprimand, including the Rule(s) upon which the Reprimand was based. Before the release of the public announcement, the company must provide a copy of the announcement to NASDAQ’s MarketWatch. As described in Rule 5250(b)(1) and IM-5250-1, the company must notify MarketWatch about the announcement through the electronic disclosure submission system available at www.nasdaq.net, except in emergency situations when notification may instead be provided by telephone or facsimile. If the public announcement i
