Replies to post #9196 on Gifa Inc (GIFX)

[ForReal]

I listed what you need to do your own DD (FINRA Rule 6490). You may also want to do some DD about FINRA and ECOS, where FINRA stopped a corporate action by ECOS, simply because they had issued a convertible note to someone they and the SEC were investigating. And of course, we know how FINRA held up Dolat, for reasons I am not aware of.

Interesting stuff.

[janice shell]

Please list the specifics...

You're interested in Rule 6490? Once upon a time, FINRA simply processed any corporate action requests that came its way. But in 2010, they created Rule 6490, and the SEC approved it. It had two chief benefits for FINRA.

1. FINRA was allowed for the first time to charge a fee for processing corporate actions, and to attach fines for requests submitted late.

2. FINRA was also allowed, in certain specific circumstances, to deny corporate actions.

http://finra.complinet.com/en/display/display.html?rbid=2403&record_id=12829&element_id=9364&highlight=6490#r12829