Genta, Inc (fka GNTAQ)

[nutriman24]

Appeal Process is not so simple for GNTA

Appeal Process
If FINRA Operations determines that a request to process a Company-Related Action is
deficient, FINRA will provide written notice to the requesting party. The written notice
will state the specific factor(s) that caused the request to be deemed deficient. The
issuer or its duly authorized representative may request an appeal of such determina -
tion by submitting a written request for an appeal to FINRA Operations within seven
(7) calendar days after service of notice of the deficiency by FINRA. A three-member
subcommittee composed of current and/or former industry members of FINRA’s
Uniform Practice Code Committee will review the appeal. The written request for an
appeal must be accompanied by proof of payment of the non-refundable Action
Determination Appeal Fee and must set forth with specificity any and all defenses to
the determination by FINRA Operations that a request is deficient.
While the appeal is pending, FINRA will stay the processing of the Company-Related
Action. The UPC subcommittee convenes once a month to consider all appeals received
during the prior month and will render a determination within three (3) business days
following the day the appeal is considered by the UPC subcommittee. The UPC
subcommittee’s determination will constitute final action by FINRA. If the issuer or its
duly authorized agent fails to file a written request for an appeal within seven (7)
calendar days after service of notice, FINRA Operations’ determination shall constitute
final action by FINRA.
Submissions by Third-Parties
Supplementary Material .02 (Requests by Third-Parties), permits FINRA, in its discretion,
to announce a Company-Related Action when it is contacted by a third party, such as
The Depository Trust & Clearing Corporation (DTCC), foreign exchanges or regulators,
member firms or associated persons. In such instances, FINRA would request that the
third-party contact the issuer in question regarding its obligations under SEA Rule
10b-17 or other rules and regulations, as applicable, and instruct the issuer to contact
FINRA directly to provide notice and complete the requisite forms. However, FINRA
Operations may in its discretion review and process a Company-Related Action based
on information from a third-party when it believes the action is necessary for the
protection of the market and investors and/or FINRA Operations has been unable to
obtain notification of the Company-Related Action from the issuer. In all cases, FINRA
notes that it must have actual substantiated knowledge of a Company-Related Action
from a credible source before it can consider announcing such action.
Regulatory Notice 7
August 2010 10-38