Replies to post #19663 on REAC Group Inc. (REAC)

[RicFlair]

FINRA does not have to approve corporate actions like reverse splits. That is a big misconception.

Link:
http://www.finra.org/investors/highlights/corporate-actions-public-companies-what-you-should-know

Quote:
Be Wary of Announcements Regarding FINRA "Approval" of a Corporate Action   
Companies undergoing a corporate action often issue a press release or other communication, such as a tweet or other social media post, to provide details of the change. For instance, a company might announce a new corporate name that reflects a change in product lines or business focus. However, in the past, some companies have used these publications to suggest that FINRA has somehow "approved" a corporate action or that a corporate action will be effective once FINRA approves it. To clarify, this is not the case: FINRA does not approve corporate actions.