Trade Finance Forum › Forums › Market Regulations › Compliance › Identify the reasons under Nasdaq rule 5250(c)(1) for which a trade financing corporation may be delisted. › Reply To: Identify the reasons under Nasdaq rule 5250(c)(1) for which a trade financing corporation may be delisted.
The Nasdaq regulation 5250(c)(1) specifies the requirements that, even though not met, may result in a company’s delisting. These factors include the inability to adhere to financial and operational standards, failure to file mandatory SEC filings, and fraudulent activity. In addition, a firm may be delisted if its stock price falls under a specific threshold over an extended period.
Cantaloupe, Inc., Mercurity Fintech Holding Inc., and Triterras got Nasdaq Notice Of Non-Compliance With Listing Rule 5250(c)(1) in September 2022, June 2022, and 2021, respectively. Triterras got a notice from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) that the company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it did not file its Annual Report on Form 20-F for the fiscal year ended February 28, 2021 (the “2021 Annual Report”) with the SEC by the deadline.