Aurora Acquisition Corp (AURC)

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Does this affect us and can somebody actually put it in layman's terms to make it a little easier to understand please?

FINRA 4320 goes into effect on 2/28/11. It mandates 13 day buy-ins for open delivery failures FINALLY applying to shares of non-reporting corporations

FINRA 2010-043, also starting on 2/28/11 reinstates the “short sale exempt” (SSE) marking requirements for trade reporting and the OATS system. Those MMs accessing the bona fide MM exemption from executing pre-borrows or “locates” before admittedly naked short sales must now FORMALLY acknowledge the accessing of that universally-abused exemption.


SR-FINRA-2010-028

Proposed Rule Change to Adopt FINRA Rule 4320 (Short Sale Delivery Requirements) in the Consolidated FINRA Rulebook

Financial Industry Regulatory Authority, Inc. (“FINRA”) (f/k/a National Association of Securities Dealers, Inc. (“NASD”)) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to adopt NASD Rule 3210 (Short Sale Delivery Requirements) as FINRA Rule 4320 in the consolidated FINRA rulebook.

Text of Proposed Rule Change (PDF 74 KB)
Amendment No.1 to Proposed Rule Change (PDF 35 KB)
Federal Register Notice (PDF 65 KB)
Approval Order (PDF 52 KB)