PanAmerican BanCorp (PABN) Message Board

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Microcap & Penny Stocks : PanAmerican BanCorp (PABN)

PABN 0.00001000

0.0%

Mar 7 3:00 PM EST

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To: Howard C. who wrote (42597)	1/25/2000 3:10:00 PM
From: jhild	Read Replies (1) of 43774

Here it is. It was easy to find: The exemption granted by the SEC from Rule 15c2-11 will permit broker-dealers to publish or submit quotations in other quotation mediums, including the National Quotation Bureau's Pink Sheets, for securities being removed from the OTCBB pursuant to NASD Rule 6530 subject to the following conditions: 1.A broker or dealer must have in its records information specified in paragraphs (a)(5)(i), (a)(5)(ii), and (a)(5)(viii) of Rule 15c2-11; 2.The security was quoted in the OTCBB from January 4, 1999 until the date of its removal 3; 3.The NASD has appended the covered security's symbol to indicate that it is not compliant with Rule 6530; and, 4.A broker or dealer must have published quotations in the covered security in the OTCBB on at least 12 business days during the preceding 30 calendar days, with no more than four consecutive business days without quotations. This exemption will expire when the implementation of the Eligibility Rule is complete.* * * After that time, broker or dealers that wish to publish a quotation in another quotation medium in an OTCBB security that becomes ineligible for the OTCBB system will be required to comply with Rule 15c2-11. The Commission has recently reproposed amendments to Rule 15c2-11. See Securities Exchange Act Release No. 34-41110 (March 8, 1999). Broker-dealers would be required to comply with any new provisions of Rule 15c2-11, and this exemption may be modified or revoked upon adoption of any amendments. otcbb.com What this means is that any MM will have to fulfill Rule 15c2-11 and have on file from the company Form 10 information in order to trade the security. This will be quite a reporting hurdle for them.

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