Whatever - Nasdaq halted/suspended/delisted KBIO but still does not negate the fact that Rule 15c2-11 you referenced seems to apply more to non-Nasdaq securities that have had no quotes for 4 days. Additionally, Finra indicates broker/dealer only needed to satisfy one aspect in order to be exempt from Rule 15c2-11 and KBIO had two aspects covered and maybe more for all we know. They were a Nasdaq stock that had traded for 30 consecutive days before halt/suspension/delisting, which may be why they were moved from Greys soon after opening to Pinks and without any reference for "Unsolicted Quotes" etc. Not to mention, they were not suspended by SEC.