Humanigen Inc (fka HGENQ)

[fireopal]

"SEC Rule 15C2-11 only relates to Non NASDAQ securities. A dealer may be exempt from the requirements of SEC Rule 15 C 2-11 if:

- The Quote is being entered based on an unsolicited customer order
- The security is listed on an exchange or trades on NASDAQ
- The dealer is “piggybacking” another dealer’s quote.

Securities that have been delisted from NASDAQ may be automatically quoted by a dealer on the OTC BB if:

- The issuer is not in bankruptcy
- The security was quoted for 30 days continuously before being halted
- The issuer is current with all required SEC filings.

If a security being quoted on the OTC BB is the subject of an SEC trading suspension, the market maker should review the information they have in their possession with regard to the issuer to ensure that it is still accurate and that they are still in compliance with SEC Rule 15C2-11. The market maker must obtain updated information if necessary..." http://www.investopedia.com/study-guide/series-24/d-nasdaq/


Rule 15c2-11 Exceptions

Question #17: Are there any exceptions from the informational requirements of Rule 15c2-11?
Answer: Yes. If a broker/dealer can meet one of the exceptions of Rule 15c2-11, it is not required to maintain or submit to the NASD any documents required by Rule 15c2-11. These exceptions primarily relate to instances where a broker/dealer wishes to quote a security that: is traded on a national securities exchange in the United States; represents unsolicited customer interest; has been the subject of regular and continuous quotations for the past 30 days; or is traded on Nasdaq.

Question #18: When does the Rule 15c2-11(f)(1) "exchange" exception apply?
Answer: The exchange exception applies to securities that are traded on a United States national securities exchange on the same day or the business day prior to the day the application is made to the quotation medium.

Question #29: What are the requirements of Rule 15c2-11(f)(5), the "Nasdaq" exception?
Answer: In order for a broker/dealer to rely on the Nasdaq exception, the security must be authorized for quotation on Nasdaq and the authorization must not be suspended, terminated, or prohibited. http://finra.complinet.com/en/display/display_main.html?rbid=2403&element_id=1675&print=1

Would any of this apply and possibly explain why Pinks has not yet listed "Unsolicited Quotes" with KBIO?