GOING PUBLIC – THE PROCESS... http://venturev
Post# of 2102
Posted On: 10/16/2014 7:31:40 PM
GOING PUBLIC – THE PROCESS...
http://venturevest.com/goingpublic/theprocess.html
Form 15c2-11 – A “Form 15c2-11” is a very lengthy and comprehensive document that must be filed with FINRA (see “FINRA”) in order for a company to receive a Symbol. (see “Symbol”) A Form 15c2-11 must be submitted by a Broker (see Broker”)
The Securities and Exchange Commission (SEC), under the Securities Act of 1934, requires that a broker-dealer must have in its possession certain categories of information before posting a quotation for the issuing company’s stock. This is the type of information that is submitted to the broker-dealer to FINRA to receive a symbol for the Company.
The completion of Form 15c2-11 can be a very lengthy and time consuming process. While the Form itself seems not to be too long, the information and supporting documents can involve a very large 3 ring binder and more.
Putting together the information for a Form 15c2-11 will deeply involve the officers of the Company and the broker-dealer in preparing the needed information.
After the broker-dealer believes the all of the information is complete and submits the information to FINRA, FINRA may take two to three weeks to review the material and respond. They will then usually come back with a number of comments and questions. This may happen several times before the 15c2-11 is accepted and the Company finally receives their Symbol and can then be quoted on the OTCBB and OTCQB. (see “OTCBB & OTCQB”) The entire process may take several months.
http://venturevest.com/goingpublic/theprocess.html
Form 15c2-11 – A “Form 15c2-11” is a very lengthy and comprehensive document that must be filed with FINRA (see “FINRA”) in order for a company to receive a Symbol. (see “Symbol”) A Form 15c2-11 must be submitted by a Broker (see Broker”)
The Securities and Exchange Commission (SEC), under the Securities Act of 1934, requires that a broker-dealer must have in its possession certain categories of information before posting a quotation for the issuing company’s stock. This is the type of information that is submitted to the broker-dealer to FINRA to receive a symbol for the Company.
The completion of Form 15c2-11 can be a very lengthy and time consuming process. While the Form itself seems not to be too long, the information and supporting documents can involve a very large 3 ring binder and more.
Putting together the information for a Form 15c2-11 will deeply involve the officers of the Company and the broker-dealer in preparing the needed information.
After the broker-dealer believes the all of the information is complete and submits the information to FINRA, FINRA may take two to three weeks to review the material and respond. They will then usually come back with a number of comments and questions. This may happen several times before the 15c2-11 is accepted and the Company finally receives their Symbol and can then be quoted on the OTCBB and OTCQB. (see “OTCBB & OTCQB”) The entire process may take several months.
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