Good Vibrations Shoes Inc (GVSI)

[Jayman5000]

https://www.dictionary.com/browse/proceeding :

Proceeding
noun
a particular action or course or manner of action

So a proceeding is an action that is being undertaken. Processing a corporate action application is an action in itself. While it is being undertaken it can be referred to as a proceeding - an action being undertaken, in other words.

And in the end I'm just paraphrasing Hokie and his oft-repeated phrasing that basically boils down to "there ain't nothing going on with GVSI at FINRA!"

Ouch. Hokie says nothing is being undertaken at FINRA. So is he lying?