On September 3rd, Nasdaq proposed changes to its listing standards that potentially have dramatic consequences for cross-border, micro-cap IPOs. These smaller listings have comprised an essential part of Nasdaq’s IPOs over the past several years, and the impact of the new rules, if adopted, could be disruptive to many companies currently preparing to go public, as well as the investment banks and advisory firms that work with them.What do the new rules say?There are three crucial proposed changes from Nasda ...