Legal Updates Nasdaq’s Proposed $5 Million MVLS Rule and NYSE American’s Proposed Listing Standard: A Structural Shift for Small-Cap Issuers
In January 2026, both Nasdaq and NYSE American proposed changes that, taken together, would materially reshape the listing landscape for smaller public companies. While each proposal addresses different stages of the listing lifecycle—continued listing for Nasdaq and initial listing for NYSE American—the combined effect signals a decisive move toward faster removal of thinly capitalized issuers and fewer remediation pathways.
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