Can a company appeal the removal of its securities from the OTCBB?
The issuer of a security quoted on the OTCBB may appeal the removal of its securities to a Hearing Officer appointed by the FINRA Office of Hearing Officers pursuant to the NASD Rule 9700 Series. The request for an appeal hearing must be received by the Office of Hearing Officers at least two days prior to the scheduled removal of the security, together with evidence that the issuer has paid a $4,000 hearing fee. A hearing request will stay the removal of the issuers securities from the OTCBB, pending the Hearing Officers decision. . Unless otherwise ordered by the Hearing Officer, hearings will be conducted via telephone. The Office of Hearing Officers will provide the issuer at least 5 business days notice of the hearing unless the issuer waives such notice. At a brief telephonic hearing, the Hearing Officer will determine whether the Companys securities are eligible for quotation on the OTCBB under NASD Rules 6530 and 6540. The Hearing Officer will consider only the issues of whethe
