NYSE to Fee-Dodging Companies: Pay Up or Face Delisting Wrath
Published Date: 5/27/2025
Notice
Summary
The New York Stock Exchange (NYSE) now says if a company listed on it owes any unpaid fees, the Exchange won’t even look at their plan to fix listing problems. Instead, if those fees aren’t paid by certain deadlines, the company could be suspended or delisted. This change affects all listed companies and kicks in right away, so paying fees on time just got way more important!
Analyzed Economic Effects
3 provisions identified: 0 benefits, 3 costs, 0 mixed.
No Plan Review If Fees Unpaid
If your company is listed on the NYSE and the Exchange finds it below continued listing standards, the Exchange will not review your compliance plan unless you have paid in full all listing and annual fees disclosed in the Non-Compliance Letter. If those disclosed fees are not paid in full by the plan submission deadline (45 days for listed domestic companies; 90 days for listed non-U.S. companies), the Exchange will promptly begin suspension and delisting procedures under Section 804.00 of the Listed Company Manual.
Quarterly/Semiannual Fee Disclosure With 45-Day Deadline
At the start of each quarter (or semi-annual period for listed non-U.S. companies), the NYSE will tell your company the amount of unpaid listing and annual fees owed as of the end of the prior fiscal period. If your company does not pay all disclosed outstanding fees within 45 days of that disclosure, the Exchange will promptly commence suspension and delisting procedures under Section 804.00 of the Manual.
Must Pay Fees To Be Deemed Back In Compliance
Under a compliance plan (which may last up to 18 months), your company will not be considered back in compliance before the plan period ends unless it has paid in full all outstanding fees disclosed in the most recent quarterly or semi-annual fee disclosure. If the company has not paid all disclosed outstanding fees as of the end of the plan period, the Exchange will promptly initiate suspension and delisting procedures under Section 804.00.
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