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Re: greedy__malone post# 11035

Monday, 01/24/2011 10:42:29 AM

Monday, January 24, 2011 10:42:29 AM

Post# of 22918
If the phantoms here cannot straighten this mess out with the Nevada Sec. of State, how will they ever manage to pass muster with FINRA under the new FINRA Rule 6490 (Effective September 27, 2010)?

"Historically, FINRA’s role has been largely ministerial with limited jurisdiction to impose informational or other requirements, and no power to reject requested changes. However, the SEC began to express concern that certain parties were using FINRA to assist in fraudulent activities, such as usurping the corporate identity of publicly traded entities by either reinstating an entity with no authority or creating new entities with the same name as the public entity. Accordingly, Rule 6490 was created."