Asyst Technologies, Inc. (fka ASYTQ)

[trader53]

FINRA was really late in their announcement.

The "Market Makers", were making a market in ASYTQ well after the "Effective Date" of March 5, 2010.

It wasn't until September 29th, 2011 that FINRA sent out this announcement below:
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I received the following e-mails from the OTC__________________________________________________________________

10/19/2011
I don’t know the answer to that. FINRA should be notified as soon as possible. However, I think this is based on a FINRA rule and not an SEC rule so I don’t think there is any kind of penalty involved. SEC Rule 10b17 only governs dividends, stock splits or rights offerings.

Regards,
Brandon

Brandon Ferguson
Issuer and Information Services
__________________________________________________________________

10/19/2011
Thank you for your e-mail.
If shares are said to be cancelled in an 8-K, why wouldn't an officer in the company, or the Debtors attorney notify FINRA right away?
....and, if they don't notify FINRA, aren't they, and the Market Makers failing to uphold the integrity of their positions?
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10/19/2011
I assume that FINRA usually gets notification from the issuer. However, if they find out about it some other way, they would most likely delete the symbol for market integrity purposes.

Regards,
Brandon

Brandon Ferguson
Issuer and Information Services
304 Hudson Street 3rd Floor
New York, NY 10013-1015
T [phone] | F [phone]
[e-mail]
_________________________________________________________________

10/18/2011
Hello Brandon,
Thank you so much for contacting me with this information.

Would you know what person(s), have the right, or authority to request that FINRA delete shares?

I have been told that only an officer of the company, or the attorney for the debtor, have this authority.

Can you confirm this?
Thank you,
__________________________________________________________________

10/10/2011
Our note from FINRA on 9/29/11 stated: “Plan of Bankruptcy Effective. All shares have been cancelled. Deletion Time: 11:03:32”

At that time, the symbol was deleted. If you have additional questions, you may want to contact FINRA.

-Brandon
Brandon Ferguson
Issuer and Information Services

304 Hudson Street 3rd Floor
New York, NY 10013-1015
T [phone] | F [phone]
[e-mail]
__________________________________________________________________

10/09/2011
Re: Deletion of ASYTQ

Good Morning,
I am a shareholder of ASYTQ ( Asyst Technologies, Inc.)

This stock was deleted on September 29, 2011

I am trying to find out why Market Makers are no longer making a market in this stock.

The shares were said to have been cancelled on March 10th, 2010, however, market makers maintained Bid and Ask prices from March 10, 2010 up until September 28, 2011.

I am interested in knowing why, all of a sudden, the market makers did not make a market in ASYTQ.
There must be some reason.

Thank you for any information and answers you can provide.

Sincerely,
__________________________________________________________________


Notice from FINRA dated September 29th, 2011:
Attn: Trading and Market Making/Legal and Compliance/Operations/Systems
UNIFORM PRACTICE ADVISORY (UPC #68-11) September 29, 2011
Asyst Technologies, Inc. (ASYTQ)

Members are reminded of their obligations under NASD Conduct Rule 2310 if they continue to engage in transactions in the above security after the effective date.

Members are further advised that deliveries in settlement of contracts in the OLD securities, which were executed prior to the announcement that the securities had been deemed worthless, shall be evidenced by either a) the OLD security; or b) a Letter of Indemnity which shall grant the purchaser any rights and privileges which might accrue to the holders of the physical securities. Such deliveries shall operate to close-out the contract and shall be settled at the existing contract price pursuant to Uniform Practice Code Rule 11530.