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To: 91fxrs who wrote (378)12/10/1997 1:22:00 PM
From: Proton  Read Replies (2) | Respond to of 1667
 
Re: Bulletin Board Retention Requirements

I have not seen the proposal's provisions. Here is where the Interactive Wall Street Journal had to say on it yesterday:

"Under the proposal being considered, companies would have their stocks removed unless they agreed to file statements with the SEC or other financial regulators, according to Tuesday's Wall Street Journal. In addition, brokerage firms could be barred from quoting prices for the stocks unless the brokers had current reliable financial information about the companies."

At a minimum, this would mean that companies must file form 10K/Q (yearly and quarterly financials). The SEC requires companies to file all sorts of other forms. This is what people imply when they refer to a "full reporting" company. I do not know whether "full reporting" (things such as the 13D for 5% ownership, the 144 for legal insider transactions, or the 8D for material news disclosure) will be required to stay on the BB. I do know they are needed for the "real" NASDAQ markets, the NYSE, and the ASE.