Hititup. For the third time. No halt is possible.
This is what you referred to. But obviously, you didn't read it
The Securities and Exchange Commission (SEC) has approved a new rule which gives the National Association of Securities Dealers (NASD®) the authority to institute trading halts in OTC Bulletin Board® (OTCBB) issues under certain circumstances. The NASD will begin to exercise its new authority in thirty (30) days on June 26, 2000. For specific information about the new rule, please refer to the General News section of the OTCBB Web site.
In my original post I listed the 3 circumstances that would warrant the NASD to halt trading in an OTCBB stock. Just for you I'll repeat them here.
1. the company is also traded on a foreign exchange and is halted on that exchange (Foreign Regulatory Halt)
2. the security is a derivative of a company listed on a national exchange. For instance, warrants traded on the OTCBB of a company on the Naz will be halted if the trading of the company’s stock on the Naz is halted (listed security halt)
3. the company has failed to comply with the requirements of SEC Rule 10b-17 (Record Dates)
Other than for these reasons, the NASD is totally powerless to issue trading halts on the OTCBB (and so is anybody else). The halts you see on real exchanges for anticipated news can therefore never happen and has never happened on the OTCBB.
TT
"You can't be a real country unless you have a beer and an airline - it helps if you have some kind of a football team, or some nuclear weapons, but at the very least you need a beer". F Zappa
