JB and ZJMY Holding Co (JBZY)

[Stock Farmer]

There is no written 10 day rule for FINRA to respond that I know of.

FINRA can take several weeks or even months between comments (see post near bottom). The 10 days refers to FINRA rule 6490 and is a rule for the Issuer (company) to provide notice of a corporate action. The Issuer(company) can elect not to provide the 10 day notice and will be hit by hefty fees.

Rule 6490 does not compel FINRA in anyway to have to respond or process the corporate action in 10 days. It may be a rule of thumb that FINRA tries to respond in a timely manner, but does not put a time limit on FINRA IMO.

I'll say it again. The Issuer(company) puts the effective date of the corporate action right on the Forms. FINRA will push back the date if the review process is ongoing. Again, the Issuer(company) puts the anticipated effective date of the corporate action on the forms.

http://finra.complinet.com/en/display/display_main.html?rbid=2403&element_id=9473&print=1

Submitting Notice of Company-Related Actions

An issuer or other duly authorized representative that is obligated to notify FINRA of a Company-Related Action must:

1. Complete, sign and submit the Company-Related Action Notification Form to FINRA Operations at least ten (10) days prior to the record date or effective date (as applicable) involved for the Company-Related Action. The form is available on FINRA's website at www.finra.org/upc/forms.

...

Applicable Fees

Rule 6490 requires issuers to pay the following fees to FINRA:

SEA RULE 10b-17 ACTION FEE
Timely SEA Rule 10b-17 Notification $200
Late SEA Rule 10b-17 Notification (Notice submitted at least 5 calendar days prior to corporate action date) $1,000
Late SEA Rule 10b-17 Notification (Notice submitted at least 1 calendar day prior to corporate action date) $2,000
Late SEA Rule 10b-17 Notification (Notice submitted on or after corporate action date) $5,000
OTHER COMPANY-RELATED ACTION FEE
Voluntary Symbol Request Change $500
Initial Symbol Set Up No Charge
Symbol Deletion No Charge
APPEALS FEE
Action Determination Appeal Fee $4,000

Here are the FINRA forms: The Issuer Company Related Action Notification form is an electronic form only.











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