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sorry, you're 100% wrong.. no certs will be

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puppydotcom Member Level  Wednesday, 05/16/12 12:58:40 PM
Re: SevenTenEleven post# 200273
Post # of 217419 
sorry, you're 100% wrong.. no certs will be coming to any FFGO share holders

The broker has ZERO responsibility to provide share holders with stock certs on revoked securities. Especially , when the company has no TA and is no longer a legal entity and no longer a going concern.

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The SEC may revoke the registration of stocks. In some circumstances, the SEC may revoke the registration of a defunct company's stock pursuant to Section 12(j) of the Exchange Act. Under Section 12(j), the SEC is authorized to revoke the registration of a security if it fails to comply with the federal securities laws. No broker-dealer may execute any trades in stocks whose registration has been revoked pursuant to Section 12(j).

A defunct company may not have a transfer agent. In some situations, the defunct company does not have a transfer agent. Although the federal securities laws do not require a company to have a transfer agent, if a company does not have a transfer agent, investors are unable to receive or transfer their stock certificates. Sometimes the SEC has considered a company's lack of a transfer agent as a factor in whether to revoke the registration of stock pursuant to Section 12(j) for the protection of investors.
http://www.sec.gov/answers/dfnctco.htm

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Denial, suspension, or revocation of registration; notice and hearing

The Commission is authorized, by order, as it deems necessary or appropriate for the protection of investors to deny, to suspend the effective date of, to suspend for a period not exceeding twelve months, or to revoke the registration of a security, if the Commission finds, on the record after notice and opportunity for hearing, that the issuer, of such security has failed to comply with any provision of this title or the rules and regulations thereunder. [color=red]No member of a national securities exchange, broker, or dealer shall make use of the mails or any means or instrumentality of interstate commerce to effect any transaction in, or to induce the purchase or sale of, any security the registration of which has been and is suspended or revoked pursuant to the preceding sentence. [/color]

http://taft.law.uc.edu/CCL/34Act/sec12.html

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