Nasdaq gets more discretion to reject risky IPOs
2025-12-12 16:33:34
The Nasdaq exchange has been given greater discretion to reject IPO applications that pose a risk of manipulation. The new rule was approved immediately by the Securities Exchange Commission (SEC) on Friday. The new rule authorizes Nasdaq to reject a company's listing if it does not cooperate with U.S. regulators where it operates; if underwriters, brokers, lawyers or auditors have been involved in questionable transactions; and if there are concerns about the integrity of management or major shareholders. The move is aimed at addressing the collapse in prices after a large number of small IPOs have gone public in recent years. Half of Nasdaq's IPOs have raised less than $15 million in the past year, and most of them have lost more than 35% in a year.
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