DTC Hearings and Rule 22
Upon learning of the DTC chill, this issuer requested that DTC provide a hearing in accordance with its Rule 22, the only DTC rule that allows for some sort of hearing process. Rule 22 provides an opportunity for Interest Persons to be heard on any determination by DTC that an Issuer's security is no longer an eligible security. DTC denied IPWG's request for a hearing stating that this issuers securities were still eligible and that it would lift the chill "once the matter of the unregistered issuers shares is resolved with the SEC." DTC suggested the Company take the matter up with the SEC.
The issuer was in a quandary.
There was no action pending with the SEC within which the issuer was a party and the SEC action related to issuers shares had been settled, without addressing the "matter of the unregistered issuers shares."
No Clear Way Out
There was no clear way to take the matter up with the SEC. In addition, there was no clear way to take the matter up with DTC. DTC works through Participants - i.e. licensed broker-dealers not Issuers. Moreover, the shares it actually holds and trades are already issued and belong to shareholders, not the Issuer. So, although the issuer was clearly and undeniably greatly impacted by the DTC chill, DTC took the position that it didn't have any particular obligation to the Company for its actions.
The Company filed an administrative appeal with the SEC looking for assistance. A discussion of jurisdiction and the rules vis a vie getting this matter in front of the SEC is beyond the scope of this newsletter but suffice it to say, after much legal wrangling and a realization by all involved that there was no precedent to look upon, the SEC agreed to take the matter on.
DTC Hearings and Rule 22 Upon learning of the DTC
Top 10 Most Recent News Articles
GrOwnValve's Personalized Valves Pass Safety Milestone
Pioneering Success in Personalized Valve Study GrOwnValve GmbH just hit a big milestone that's caught my attention. Their first-in-human heart valve study wrapped up its six-month run with no prosthesis-related mishaps. Yeah, zero misfires. For five whole patients who've been through the wringer, things held steady. This Berlin startup’s got guts, testing tech that...
Continue Reading
Netcapital's 28.62% Plunge: A Fraudulent Drama Unfolds
Netcapital: The Plunge Heard 'Round the Market There it is, clear as day—Netcapital’s (NASDAQ: NCPL) stock plummeting 28.62% like a lead balloon. Shareholders had to watch in horror as pieces of their investments seemed to evaporate, all thanks to a swirl of alleged fraud. You can't just shrug off accusations that a company you've betted on has been cooking its books,...
Continue Reading
Veterans, Lawmakers Forge Paths in Spokane Forum
Spokane Forum Sparks Action for Veterans' Policies Gonzaga University turned into a powerhouse of dialogue and determination as the Wounded Warrior Project (WWP) gathered over 145 veterans, elected officials, and advocate groups to hash out critical policy priorities. We're talking high-stakes discussions with real consequences, not just some feel-good meet-up. A...
Continue Reading
Temu Partners with Recyclia to Drive EPR Compliance Boost
Temu and Recyclia: Building a Sustainable Marketplace Get this: Temu, the e-commerce giant you've heard trumpeting about affordable goods like some digital bazaar, is diving deeper into sustainability waters with a partner that knows a thing or two about waste. This time, they've linked up with Recyclia over in Spain. The duo's focus? Helping marketplace sellers meet the...
Continue Reading
ROKAE Hits 10,000 Delivery Mark for Robotic Arms
ROKAE's Big 10K: A Milestone Worth Noting Alright, if you've been around the block as long as I have, you know the robotics game isn't just about making cool gadgets—it's about hitting those serious deployment numbers. ROKAE Robotics just rolled its 10,000th humanoid force-controlled arm off the line in Shandong, and this ain't just another notch on their belt. This...
Continue Reading
Ouma Connect Streamlines Surrogacy Medical Clearance
A Game Changer for Surrogacy Agencies When we talk about innovation, we often focus on the flashiest tech in finance or the buzz of a scorching hot stock. But here's Ouma Health, shifting gears in a sector many traders don't blink at—surrogacy. They're unveiling Ouma Connect, a portal pulling back the curtain on medical clearances for gestational-carrier candidates....
Continue Reading
Dudley DeBosier Lends a Hand with Thanksgiving Giveaway
Small Gestures Making a Big Difference Ah, Thanksgiving—a time of turkey, stuffing, and cranberries, with grocery receipts long enough to make your eyes water. And wouldn't you know, Dudley DeBosier Injury Lawyers is stepping in with a little relief, dishing out $2,000 in gift cards. This Louisiana-based law firm is giving away ten $200 gift cards to residents just in...
Continue Reading
Cognizant & EBRD Unite for Tech Transformation Push
An Unexpected Collaboration to Watch Sometimes partnerships come out of left field, like this one between Cognizant and the European Bank for Reconstruction and Development (EBRD). These two are teaming up to inject some serious tech smarts into the Bank's operations over the next five years. What's interesting here is the role AI and automation play in their grand...
Continue Reading
Artprice Champions Creative Freedom with AI in 2026
AI and the Creative Reawakening As the autumn of 2026 rolls in, publishing circles are buzzing over artificial intelligence's role in artistry. Weekly updates hailing rejection, tolerance, or adaptation of AI in writing stir the pot. Yet, Artprice by Artmarket stands out by anchoring creative freedom and responsibility in the spotlight. Grounded on an initiative launched...
Continue Reading
Canton Fair: More Than Trade—A Cultural Exchange
Why a Trade Fair Needs Lion Dances October 2026 marks a time when talking about a trade fair means diving headfirst into a whirlpool of global exchange and cultural tango we don’t often see in the West. Yeah, I'm looking at you, Canton Fair—a long-runner over in China that's managed to haul in the globe to not just showcase wares, but bring people together in a clash...
Continue ReadingTop 5 Most Recently Viewed Articles
Exploring New Frontiers: Greenridge's Uranium Ambitions
Revolutionizing Uranium Exploration at McKenzie Lake Greenridge Exploration Inc. (CSE: GXP | FRA: HW3 | OTCQB: GXPLF) is initiating a new chapter in uranium exploration at its McKenzie Lake project, located in the renowned Athabasca Basin. By partnering with Axiom Exploration Group Ltd. to conduct a helicopter-borne time-domain electromagnetic (HTDEM) survey, Greenridge...
Continue Reading
NOVA Collective Invest's Strategic Insights for 2025 Highlighting Global Trends
Global Performance Insights and Strategic Shifts NOVA Collective Invest has recently unveiled its 2025 Half-Year Performance and Strategic Allocation Report. This comprehensive document provides a thorough examination of their capital deployment, portfolio returns, and investment positioning across several continents. The report showcases the organization's unwavering...
Continue Reading
Jackbit: The Ultimate No-KYC Crypto Casino in Canada
Jackbit Leading the Way in Canada’s Crypto Casino Scene In recent years, online gambling has taken a significant turn, particularly in Canada. One casino that stands out in this evolving market is Jackbit, which has gained recognition for its unique approach to privacy and user experience. The platform allows players to enjoy online gambling without the usual burdens of...
Continue Reading
Exploring the Role of AI in Transforming Diabetic Retinopathy Care
Understanding the Importance of AI in Diabetic Retinopathy The Global AI in Diabetic Retinopathy market is on a trajectory for substantial growth as artificial intelligence (AI) increasingly reshapes healthcare diagnostics and therapies. The use of AI technology is proving transformative, especially in the area of diabetic retinopathy (DR), a complicating factor for...
Continue Reading
Southwest Airlines Adjusts Profit Forecast Amid Rising Costs
Southwest Airlines Reassesses Financial Expectations Southwest Airlines Co. (NYSE: LUV) has recently adjusted its profit forecast for the upcoming year as it navigates challenging market conditions. The airline's decision comes in response to a rise in fuel prices and a temporary decline in travel demand prompted by various disruptions. Impact of Increased Costs The...
Continue Reading