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loanranger

05/13/10 5:34 PM

#319245 RE: OldTymer #319234

OT,
No, the SEC cannot revoke on its own. They must issue the OIP that I referred to earlier and a hearing judge who is independent from the SEC will decide the revocation issue.
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TEX

05/13/10 5:51 PM

#319258 RE: OldTymer #319234

yep, via an hearing presided over by an administrative law judge. They give companies notice of the hearing: some ask for more time; some settle w/o a fight; some, rarely, fight (usually with lame-ass "dog at my homework" excuses; some never even respond.