Yep, so long as there’s an effort to bring the tickers current SEC will take no actions. The new rule applies to those barren and abandoned tickers and those where CEO refuses to take corrective actions. It’s all in the long reading, not a simple “they’re not current so they get delisted”.
Also, from the SEC Rule 15c2-11, which is 297 pages long, lists exemptions for “shell companies” going thru a reverse merger. These exemptions start on page 96 for those interested. Companies in a shell status going thru a reverse merger may be given a time not to exceed 18 months to become current and meet the new requirements. It’s all there.
These rules are scheduled to begin 26 September, not end of this month.
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