new delisting rules - for NYSE

loufah · Feb 1, 2006

From the WSJ:

WASHINGTON -- Embattled mortgage finance company Fannie Mae announced Friday that the New York Stock Exchange recently granted the company's request to continue listing its stock -- despite the fact that Fannie hasn't filed an earnings statements since the second quarter of 2004.

The Securities and Exchange Commission approved last week a controversial amendment that saves Fannie from certain delisting procedures that were slated to begin as soon as March under the NYSE's original rules for companies that had fallen behind in their SEC filings.

Fannie, in an SEC disclosure filed after the markets closed Friday, said the NYSE approved the company's request last Thursday -- which is also when the SEC okayed the change.

...

The SEC approved the amendment that was proposed last fall -- over the objections of the Nasdaq Stock Market -- giving the NYSE the power to hold off delisting companies that, like Fannie Mae, may fall more than a year late in filing annual reports.
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freehouse · Feb 1, 2006

KKD has also not filed financials. It was given a 3 month extension.

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new delisting rules - for NYSE

loufah

freehouse