Nasdaq's New Rule: Boot Stocks Already Halted by SEC
Published Date: 3/6/2026
Notice
Summary
Nasdaq wants a new rule that lets them remove stocks from their market if the SEC has already stopped trading those stocks and Nasdaq thinks it’s the right move for everyone. This change helps keep the market safe and fair for investors by cutting out risky or suspicious stocks. The rule is up for review now, and if approved, it could speed up how Nasdaq handles these tricky situations.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 0 costs, 3 mixed.
Nasdaq Can Delist After SEC Suspensions
Nasdaq proposes a new rule (IM-5101-4) that would let Nasdaq delist a company's securities where the SEC previously suspended trading under Section 12(k). Nasdaq would use this authority on a case-by-case basis and only after the Commission has implemented a trading suspension.
Delisting Based on Listed Factors
If the Commission suspends trading under Section 12(k), Nasdaq may consider specific factors — such as the company's jurisdiction, public float and trading patterns, evidence of third-party social media schemes, advisor issues, disclosures, recent share issuances, and going concern audit opinions — when deciding whether to delist the security. Nasdaq will apply these factors to decide if a security is susceptible to manipulation and inappropriate for continued listing.
Nasdaq Can Request Info and Halt Trading
Nasdaq may request additional information from an issuer when deciding whether to apply its delisting discretion, and that information request can form the basis for a trading halt under Nasdaq Rule 4120(a)(5)(B). Such trading halts would occur while Nasdaq seeks information relating to the issuer's ability to meet Nasdaq listing qualification requirements.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-06475 — Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1, To Amend Cboe Rule 5.4
Cboe Exchange is changing the smallest price step for options on its Mini Bitcoin ETF Index to make trading smoother and clearer. This change affects traders using these options and kicks in quickly after approval, with no extra costs involved. The SEC gave this update a fast green light, so expect the new rules to start soon!
2026-06469 — Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing of Proposed Rule Change To Amend BOX Rules 5055 (FLEX Equity Options) and 3120 (Position Limits)
BOX Exchange wants to update its rules for special options tied to popular Bitcoin and Ethereum ETFs and trusts. These changes affect traders using FLEX equity options and position limits, aiming to keep things fair and clear. The new rules could impact how much traders can hold and trade, with the proposal open for public comments starting April 2026.
2026-06473 — Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of a Proposal To Amend the Exchange's Anti-Internalization Functionality in Equity 4, Rule 3307, and To Extend the Implementation Date of the CORE FIX Order Entry Protocol
Nasdaq PHLX is updating a rule that helps stop trades from accidentally happening within the same firm, which keeps trading costs down. They’re also pushing back the start date for a new order entry system called CORE FIX. These changes affect traders using Nasdaq PHLX and aim to make trading smoother without extra costs, with the new system launch delayed to give everyone more time to get ready.
2026-06462 — Self-Regulatory Organizations; 24X National Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt a Monthly Enterprise Fee for Its Depth of Book Proprietary Market Data Feed
24X National Exchange is starting a new monthly fee for companies using its special market data feed that shows detailed order info. This change affects businesses that rely on this data and kicks in right away, meaning they’ll pay a set monthly charge to access it. It’s a clear move to keep the data service running smoothly and fairly.
2026-06466 — Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of a Proposal To Amend the Exchange's Anti-Internalization Functionality in Equity 4, Rule 4757, and To Extend the Implementation Date of the CORE FIX Order Entry Protocol
Nasdaq is updating a rule that helps stop trades from accidentally happening within the same firm, which keeps trading fair and lowers costs. They’re also pushing back the start date for a new order entry system called CORE FIX to give everyone more time to get ready. These changes affect traders using Nasdaq and aim to make trading smoother without extra fees or delays.
2026-06463 — Joint Industry Plan; Notice of Filing of Amendment No. 1, and Order Instituting Proceedings To Determine Whether To Approve or Disapprove an Amendment to the National Market System Plan Regarding Consolidated Equity Market Data, as Modified by Amendment No. 1, To Adopt a Fee Schedule
Big stock market players like exchanges and trading groups want to start charging fees for sharing important stock data. They updated their plan after hearing feedback, and now the SEC is deciding if these new fees are fair and should go live. If approved, this could change how much it costs to get stock info starting soon.
Previous / Next Documents
Previous: 2026-04412 — L-Lysine From the People's Republic of China: Preliminary Affirmative Determination of Sales at Less Than Fair Value, Postponement of Final Determination, and Extension of Provisional Measures
The U.S. Department of Commerce found that L-lysine from China is likely being sold in the U.S. for less than fair value, which could mean unfair pricing. This affects Chinese exporters and U.S. buyers, and the government is extending the investigation and provisional measures to make sure everything’s fair. Final decisions are postponed, so expect updates and possible money impacts soon!
Next: 2026-04414 — Wichita, Tillman & Jackson Railway Company-Renewal of Lease Agreement Containing Interchange Commitment-Union Pacific Railroad Company
Wichita, Tillman & Jackson Railway Company is renewing its lease with Union Pacific Railroad for 16.55 miles of track between Wichita Falls, Texas, and the Texas-Oklahoma border. This lease renewal extends their agreement for another 10 years, keeping the same interchange commitment at Wichita Falls. No big changes in money or operations—just a smooth extension to keep trains rolling through 2035.
Take It Personal
Get Your Personalized Policy View
Start a Free Government Policy Watch to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in