NYSE Amends Rules for Faster Company Delisting Processes
Published Date: 3/20/2026
Notice
Summary
The New York Stock Exchange wants to change a rule about how companies get delisted (kicked off the exchange). These changes clarify when a company can be removed and how the Exchange can stop trading their stock. This affects companies listed on the NYSE and could speed up delisting decisions, with the SEC reviewing the rule by March 17, 2026.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 2 costs, 1 mixed.
Immediate Delisting Below $0.25
If a NYSE-listed stock closes below $0.25 on any trading day, the Exchange would immediately suspend trading and begin delisting proceedings. Companies subject to this Minimum Trading Price ($0.25) would not be eligible to use the normal cure procedures in Sections 802.01C, 802.02, and 802.03 to try to regain compliance.
Delisting for Precipitous, Abnormally Low Prices
The Exchange would be able to suspend trading or delist a security when, in its opinion, the trading price has experienced a precipitous decline and is at an abnormally low level from which it is unlikely to recover, even if the share price has not fallen below $0.25. Issuers would still retain the right to appeal an Exchange delisting decision under Section 804.00.
Transition Period and Reverse-Split Limits
The Exchange proposes the rule be effective October 1, 2026, providing a transition period for issuers to implement reverse stock splits before the $0.25 Minimum Trading Price takes effect. Existing Exchange limits would remain in place, including prohibitions on (1) one or more reverse stock splits with a cumulative ratio of 200 shares or more to one in a two-year period and (2) a reverse stock split that results in a company becoming non-compliant with the requirements of Section 802.01A.
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Key Dates
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Previous: 2026-05479 — Self-Regulatory Organizations; NYSE American LLC; Notice of Filing of Amendment Nos. 1, 2 and 3 and Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment Nos. 1, 2, and 3, To Amend Sections 1003 and 1009 of the NYSE American Company Guide
NYSE American wants to change some rules about when and how companies can be kicked off their exchange. These changes affect companies listed on NYSE American and clarify the Exchange’s power to suspend or delist stocks, with some companies losing certain appeal rights. The SEC is now deciding if these rule changes are fair, with a decision expected by March 17, 2026.
Next: 2026-05481 — Self-Regulatory Organizations; NYSE American LLC; Notice of Filing of Proposed Change To Amend Section 1003 of the NYSE American Company Guide
NYSE American wants to update its rules so companies must keep a certain market value to stay listed on the exchange. This change affects companies listed on NYSE American and aims to keep the market strong and reliable. The new rule is up for public comment now, and if approved, companies will need to meet these standards soon to avoid delisting.
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