Electronic Cigarettes International Group Ltd fka ECIGQ

[ChuckBits]

I don't know where the "20 day" thing came from, but I can't find it anywhere? I scanned the Pre/Def 14 filings and other stuff.

According to "OTC Markets" and FINRA, it is "10 Days". HOWEVER, like everything else, it appears anything is possible. The rule states that "FINRA" must be notified 10 days in advance. I found nothing saying "shareholders" must be notified. Also, the maximum fine for a company that splits the same day as they notify FINRA is $5k so not a big deal, other than being sneaky and NOT shareholder friendly.


http://www.otcmarkets.com/learn/otc-company-reporting

A Company's Obligations on the OTCQX, OTCQB and OTC Pink Marketplaces

Corporate Actions - SEC Rule 10b-17 requires all OTCQX, OTCQB and OTC Pink companies to provide timely notice to FINRA of certain corporate actions, including dividends, stock splits, reverse splits, name changes, mergers, acquisitions, dissolutions, bankruptcies or liquidations, at least 10 days prior to the record date. Companies who fail to report such corporate actions in the required time may be subject to fines up to $5,000. For more information, see FINRA's Notice to Member 10-38. For further details, contact FINRA’s Operations Department at 866-776-0800

http://www.finra.org/web/groups/industry/@ip/@reg/@notice/documents/notices/p121988.pdf