"Last year's Cease Trade took about 1 month from the date SNO filed as required
posted on Oct 11, 09 09:36PM...To be re-instated and to again be open for trades. If that happened about Sept 15, then we might see re-instatement about October 15."
If it happened December 3, then maybe we could see something sometime after the holidays, depending on committee staffing holidays and vacations.
I speculate it might go like this. Filing, by the cease trade company to be reinstated of all requested documents, then back and forth if there are any follow up questions, then review for conformance by the exchange, then a determination of yea or nay for listing by the exchange trading trading committee and possible back and forth if THEY have questions, then, barring objections, determination of acceptance for resumption of trading, and notifying the company and posting the determination.
Now, I don't know that this is the timeline, or the process used by the exchange, I just imagine the bureaucratic processes would not differ from most governing body committee work. And there may be time-certain conditions for process steps and final determination if all the paperwork is in order and there are no objections by the determination committee which are not answered by the company... etc. Then if there are objections not answered to the satisfaction of the determination authority, the process rewinds and starts again at the point where the objections arose until the questions are satisfactorily responded to. Then all hands review the application and the questions, if any, raised in the process and accept or reject the findings.
Then again, it could be a matter of a few days by one guy or gal working by themselves in an office in the exchange.
Last year, it seemed it took a month from when they filed.
Might be kinda like a visit by the Inspector General in the service. Whew!
Loading...
Loading...