Friday, July 01, 2011 8:29:20 AM
Why would the SEC suspend trading in
a stock?
The SEC may suspend trading in a stock when the
Commission is of the opinion that a suspension is
required to protect investors and the public interest.
Circumstances that might lead the Commission to
suspend trading include:
• A lack of current, accurate, or adequate
information about the company, for example,
when a company is not current in its filings of
periodic reports;
• Questions about the accuracy of publicly available
information, including in company press releases
and reports, about the company’s current
operational status, financial condition, or business
transactions;
• Questions about trading in the stock, including
trading by insiders, potential market manipulation,
and the ability to clear and settle transactions in
the stock.
Why couldn’t the SEC forewarn
investors that it was about to suspend
trading in a stock?
The SEC cannot announce that it’s working on a
suspension. We conduct this work confidentially to
maintain the effectiveness of any related investigation
we may be conducting. Confidentiality also protects
a company and its shareholders if the SEC ultimately
decides not to issue a trading suspension. The SEC
is mindful of the seriousness of suspensions, and
carefully considers whether it is in the public interest
to order a trading suspension.
http://www.sec.gov/investor/alerts/tradingsuspensions.pdf
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