While you are correct that FINRA does NOT approve "corporate auctions", they are still the gate keeper in "approving" this name change based on the facts and qualifications of their review. If it wasn't for FINRA review and approval of the required format, the name change would NOT happen.
And they may not approve, according to Allen, they asked 70+ questions which required Primior to submit and clarify BEFORE they would ALLOW the corporate action to proceed. Sounds like a gatekeeper to me. It's like the disclaimer on EVERY OTC Press release. Just a CYA.
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