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Technology Stocks : Solucorp Industries (SLUP - OTCBB) -- Ignore unavailable to you. Want to Upgrade?

To: hawkeye who wrote (93)	5/5/1998 9:16:00 PM
From: Arcane Lore	Read Replies (1) \| Respond to of 3679

If you're talking about trading prior to the end of the halt ... The legislative authority for trading halts appears to be the following from the Securities Exchange Act of 1934: Sec. 12.k: Trading Suspensions: Emergency Authority. Trading suspensions.-- If in its opinion the public interest and the protection of investors so require, the Commission is authorized by order - (A)summarily to suspend trading in any security (other than an exempted security) for a period not exceeding 10 business days, and ... law.uc.edu So to this non lawyer, all trading appears to be forbidden prior the end of the trading suspension. Obviously it would best to consult a securities lawyer for appropriate advice on this kind of issue. After the end of the halt, trading between individuals has occurred in the recent past without marketmakers. But I'm not aware of any gray market trading prior to the end of a trading suspension. A few additional observations: 1. In theory a trading suspension could last less than 10 business days. I don't believe that has happened in years. 2. There is a clause (B) to Section 12.k and its a biggie: ... (B) summarily to suspend all trading on any national securities exchange or otherwise, in securities other than exempted securities, for a period not exceeding 90 calendar days. The action described in subparagraph (B) shall not take effect unless the Commission notifies the President of its decision and the President notifies the Commission that the President does not disapprove of such decision. ===== This authority has never been implemented to the best of my knowledge and in practice is delegated to the individual exchanges/NASDAQ (for example, circuit breakers).