Replies to post #32412 on Plandai Biotechnology Inc (PLPL)

[marylandstockguy]

If we knew for sure we’d all be buying 3s or 4s and the volume would be 2-3 billion in a day. Don’t worry you’re in good company

[Kool Aid Man]

I agree FINRA rules seems contradictory which is why I posted the link. However, the following links explain the relationship between FINRA and OTC
https://www.sec.gov/divisions/marketreg/mrotc
https://www.finra.org/filing-reporting/over-the-counter-reporting-facility-orf

I also found this under on the FAQ page on the FINRA link above. It's the only entry with the word "mergers" in it. Even so I'm not yet sure what it all means or if it's applicable here. As you can see some actions are NOT required for "purposes of publication" but ARE for "regulatory purposes." --

Securities Positions in Connection With Certain Corporate Control Transactions

Q(uestion) 603.1: To what types of transfers does this trade reporting exception apply?

A(nswer) 603.1: Members are not required to report to FINRA for purposes of publication transfers of proprietary positions where the transfer (1) is effected in connection with a merger or direct or indirect acquisition and (2) is not in furtherance of a trading or investment strategy. While such transfers are not reportable for publication purposes, members nonetheless must report them to FINRA for regulatory purposes and for purposes of assessing applicable regulatory transaction fees and/or trading activity fees. See Rules 6282(f)(2) and 7130(c); 6380A(e)(2) and 7230A(g); 6380B(e)(2) and 7230B(f); and 6622(e)(2) and 7330(g).

Members should refer to Regulatory Notice 09-21 (April 2009) for the specific reporting requirements-including the requirement to provide FINRA advance written notice-that members must follow when relying on this exception.

Q603.2: Member BD1 acquires all of the assets of BD2. In connection with this corporate control transaction, BD1 and BD2 consolidate their separate sales and trading businesses onto a single platform and, along with the migration of sales and trading personnel, clients and systems and technology, BD2's proprietary positions are transferred to BD1. Must this transfer be reported for publication purposes?

A603.2: No. In this instance, the transfer from BD2 to BD1 is not reportable for publication purposes, but must be reported to FINRA for regulatory purposes.

Q603.3: Member BD1 and BD2 are wholly owned by the same parent company and operate separately. BD1 owns 100,000 shares of ABCD security and the value of ABCD has increased substantially since BD1 purchased the shares. As part of an investment strategy, BD1 sells the shares to BD2. Must this transfer be reported for publication purposes?

A603.3: Yes. In this instance, the sale from BD1 to BD2 must be reported to FINRA for publication purposes.

Q603.4: Member BD1's parent company acquires a non-broker-dealer financial institution, and as part of the corporate control transaction, the financial institution's proprietary positions are transferred to BD1. Must this transfer be reported for publication purposes?

A603.4: No. In this instance, the transfer from the financial institution to BD1 is not reportable for publication purposes, but must be reported to FINRA for regulatory purposes.

Q603.5: Member BD1's parent company acquires two new subsidiaries, Sub 1 and Sub 2, both of which are non-broker-dealer financial institutions, and, as part of the corporate control transaction, the proprietary positions of Sub 1 are transferred to Sub 2. Sub 1 and Sub 2 have custodial accounts at BD1, and BD1 facilitates the transfer. Must this transfer be reported for publication purposes?

A603.5: No. In this instance, the transfer from Sub 1 to Sub 2, facilitated by BD1, is not reportable for publication purposes, but must be reported to FINRA for regulatory purposes.

Q603.6: Are members required to report proprietary position transfers under this exception with the .RA modifier in Trade Modifier Field 4?

A603.6: No. Members must use the special processing flag. Use of this flag must be authorized by FINRA Market Operations prior to submission of the trades. This guidance supersedes the guidance in Regulatory Notice 09-21 (April 2009) as it relates to use of the .RA modifier.

https://www.finra.org/filing-reporting/market-transparency-reporting/trade-reporting-faq