What notification is required to be given to NASDAQ if a company no longer complies with the audit committee composition requirement of Listing Rule 5605(c)(2)(A)?
Rule 5625 states that a company must provide NASDAQ with prompt notification after an executive officer of the company becomes aware of any noncompliance by the company with the requirements of Rule 5600 Series. Further, companies are required to notify NASDAQ if they are relying on the “Cure Periods” set forth in Rule 5605(c)(4) to regain compliance with the independent director requirement. In addition, the Listing Agreement requires that a company notify NASDAQ upon discovery of any event of noncompliance. A company can provide the required notification to its NASDAQ Listing Qualifications analyst.
Related Questions
- What notification is required to be given to NASDAQ if a company no longer complies with the independent director requirement of Listing Rule 5605(b)(1)?
- What notification is required to be given to NASDAQ if a company no longer complies with the audit committee requirement of Listing Rule 5605(c)(2)?
- What happens if a company no longer complies with the audit committee composition requirement because an audit committee member resigns?
