FYI ::When an SEC trading suspension ends, a broker-dealer generally may not solicit investors to buy or sell the previously-suspended over-thecounter (“OTC”) stock until certain requirements are met. Before soliciting quotations or resuming quotations in an OTC stock that has been subject to a trading suspension, a broker-dealer must file a Form 211 with the Financial Industry Regulatory Authority (“FINRA”) representing that it has satisfied all applicable requirements, including those of Rule 15c2-11 and FINRA Rule 6432. Among other things, Rule 15c2-11 requires brokerdealers to review and maintain certain documents and information about the company, including in certain cases: 1. the company’s state of organization, business line, and names of certain control affiliates; 2. the title and class of the securities outstanding; and 3. the company’s most recent balance sheet and its profit and loss and retained earnings statement. No broker-dealer may solicit or recommend that an investor buy an OTC stock that has been subject to a trading suspension unless and until FINRA has approved a Form 211 relating to the stock. If there are continuing regulatory concerns about the company, its disclosures, or other factors, such as a pending regulatory investigation, a Form 211 application may not be approved.
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