Asked two questions on the DD Support Board and Re
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Posted On: 05/13/2021 5:21:34 PM
Asked two questions on the DD Support Board and Research Team chat room on Ihub. Take this and make your own conclusions:
1. My First Question:
If the SEC issues a temporary trading suspension for a duration of time (2 weeks), does that security resume trading after the suspension period ends, pending an administrative hearing?
Answer:
When the suspension expires, the stock will resume trading on the Grey Market. If the SEC has already initiated an admin proceeding, it will continue.
2. My second Question:
Also, if a company is in suspension and shortly files any/all required filings, do they resume trading with relative ease?
Answer:
No. For at least five years now, the SEC's policy has been to suggest to these companies that they accept revocation of registration, and then, if they want to remain public, to file a new Form 10 or S-1. The company can try to fight, as a few have, but that's a waste of time and money.
1. My First Question:
If the SEC issues a temporary trading suspension for a duration of time (2 weeks), does that security resume trading after the suspension period ends, pending an administrative hearing?
Answer:
When the suspension expires, the stock will resume trading on the Grey Market. If the SEC has already initiated an admin proceeding, it will continue.
2. My second Question:
Also, if a company is in suspension and shortly files any/all required filings, do they resume trading with relative ease?
Answer:
No. For at least five years now, the SEC's policy has been to suggest to these companies that they accept revocation of registration, and then, if they want to remain public, to file a new Form 10 or S-1. The company can try to fight, as a few have, but that's a waste of time and money.
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