Citadel EFT Inc (fka CDFT)

[Factorowitz]

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Issuer ObligationsUnder NewFINRARule 6490
FINRARule 6490 (Processing ofCompany-RelatedActions) codifies the requirements in
SEARule 10b-17 for issuers of a class of publicly trading securities to provide timely
notice to FINRA of certain corporate actions (e.g., dividend or other distribution of cash
or securities, stock split or reverse split,rights or subscription offering).Generally
pursuant to SEARule 10b-17, issuers must notify FINRA at least 10 days prior to the
record date for such corporate action. Issuers must also notify FINRA of certain other
corporate actions (e.g.,the issuance of or change of trading symbols,mergers,
bankruptcy) no later than 10 days prior to the effective date of the company action.
Issuers must complete the required forms and pay the applicable fees within such time
periods or they will be subject to late fees and delayed processing of documents to
announce corporate actions.
The new rule further permits FINRA to request other documents that may be necessary
to verify information issuers provide on the forms. FINRA may, in its discretion, conduct
detailed reviews of submissions, on a case-by-case basis.Moreover,the new rule
authorizes FINRA to not process a request to announce a corporate action if FINRA
determines that the request is deficient and not processing is necessary to protect
investors and the public interest and to maintain fair and orderly markets.


http://www.finra.org/web/groups/industry/@ip/@reg/@notice/documents/notices/p121988.pdf