The Securities and Exchange Commission (SEC) has paused its July 22, 2026, approval of a controversial Nasdaq proposal that would establish a new continued listing requirement mandating companies to maintain at least $5 million in market value of listed securities.

In a July 29 letter to Nasdaq Senior Counsel Nikolai Utochkin, the SEC said it had received notices of intent to petition for commission review of the approval, which had been issued by the agency’s Division of Trading and Markets under delegated authority. The commission posted five letters of petition, including one from the Small Public Company Coalition.

The July 22 approval order “is stayed until the Commission orders otherwise,” the SEC letter says.

The proposed rule, filed as SR-NASDAQ-2026-004, would add a $5 million Market Value of Listed Securities, or MVLS, continued listing standard for companies on the Nasdaq Global Select Market, Nasdaq Global Market and Nasdaq Capital Market.

To dig deeper, visit the original article on the Thomson Reuters blog.