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Microcap & Penny Stocks : PanAmerican BanCorp (PABN) -- Ignore unavailable to you. Want to Upgrade?

To: LegalBeast who wrote (31501)	4/10/1999 2:14:00 PM
From: wonk	Read Replies (2) \| Respond to of 43774

...So, with that common knowledge, why don't you show off your obviously superior knowledge of securities law and explain what basis the SEC would have for taking such an action. Don't forget to cite the portion of the code that PABN is in violation of which would authorize such an action. Why don't we look at the text of a typical trading suspension: THE FOLLOWING IS AN ANNOUNCEMENT MADE BY THE U.S. SECURITIES AND EXCHANGE COMMISSION. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. NEWS DIGEST The Securities and Exchange Commission announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the "Exchange Act"), of over the counter trading of the securities of Leah Industries, Inc. ("Leah"), of Toronto, Canada at 9:30 a.m. on Friday, March 12, 1999 and terminating at 11:59 p.m. on Thursday, March 25, 1999. The Commission temporarily suspended trading in the securities of Leah because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, Leah's relationship with a national auditing firm, and an acquisition Leah made. The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company. Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff of the Securities and Exchange Commission in Washington, D.C. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to Leah's securities until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action.... #reply-8284305 The basis is the adequacy and accuracy of publicly-disseminated information. The authority under section 12(k) of the 1934 Act. ...k.Trading Suspensions: Emergency Authority.-- 1.Trading suspensions.-- If in its opinion the public interest and the protection of investors so require, the Commission is authorized by order-- ... law.uc.edu; ww