Listing and Delisting Requirements

Before a company can begin trading on an exchange or the Nasdaq Stock Market, it must meet certain initial requirements or "listing standards." The exchanges and the Nasdaq Stock Market set their own standards for listing and continuing to trade. The SEC does not set listing standards.

The initial listing requirements mandate that a company meet specified minimum thresholds for the number of publicly traded shares, total market value, stock price, and number of shareholders. After a company starts trading, it must continue to meet different standards set by the exchanges or the Nasdaq Stock Market. Otherwise, the company can be delisted. These continuing standards usually are less stringent than the initial listing requirements.

You can find the initial and continued listing requirements on the websites of the New York Stock Exchange and the Nasdaq Stock Market. Neither the Pink Sheets nor the OTC Bulletin Board has listing standards, although the SEC requires companies to be current in their filings before their stock can be quoted on the OTCBB.

You can also find out whether the New York Stock Exchange is seeking to delist a company by visiting the NYSE's "Press Releases" page and selecting "Reviews/Suspensions" in the drop-down category box.

http://www.sec.gov/answers/listing.htm