Standard Financial Corp. (STND) announced that its board of directors approved the voluntary delisting of its common stock from the Nasdaq stock exchange and the deregistration of the company with the Securities and Exchange Commission. The Wall Street Journal elaborated on the decision:
The company's decision to delist and deregister the common stock comes in response to the adoption of the Jumpstart Our Business Startups Act (the "JOBS Act"), which, among other things, allows banks and bank holding companies to deregister with the SEC if they have fewer than 1,200 stockholders of record. The company's board of directors authorized the delisting and deregistration after concluding that the significant costs of remaining an SEC reporting company, including the regulatory compliance burden, outweighed the current benefits of being listed on Nasdaq.
