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Tuesday, March 20, 2007 12:07:49 PM
Here is an excerpt of the rule:
Trading Suspensions: Emergency Authority.--
1. Trading suspensions.-- If in its opinion the public interest and the protection of investors so require, the Commission is authorized by order--
A. summarily to suspend trading in any security (other than an exempted security) for a period not exceeding 10 business days, and
B. summarily to suspend all trading on any national securities exchange or otherwise, in securities other than exempted securities, for a period not exceeding 90 calendar days.
here is the link~~~> http://www.sec.gov/divisions/corpfin/34act/sect12.htm
Now...as I understand it, subsection B was implemented after 9-11.
We are under Section 12(k), subsection A.
that is it. So then the order came out about the 35 suspensions and claimed the full 10 days.
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