SEC Issues Trading Suspension of PVEN’s Common Shares
On October 30, 2013, the SEC announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”), of trading in the securities of Press Ventures, Inc. (“PVEN”), of Warsaw, Poland,. The trading suspension is in effect until November 12, 2013.
The SEC’s order suspended trading reflects concerns regarding potentially manipulative transactions in PVEN’s common stock. This order was entered pursuant to Section 12(k) of the Exchange Act.
Until the trading suspension, PVEN’s common shares were quoted by the OTC Markets OTC Link with an OTCQB tier. PVEN purported to hold As exclusive license rights to an all-natural patented essential oil disinfectant system to combat infection from molds, fungus, and airborne viruses.
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 PVEN.
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 is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to PVEN’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.
For further information about this securities law blog post, please contact Brenda Hamilton, Securities Attorney at 101 Plaza Real S, Suite 202 N, Boca Raton, Florida, (561) 416-8956, by email at [email protected] or visit www.securitieslawyer101.com. This securities law blog post is provided as a general informational service to clients and friends of Hamilton & Associates Law Group and should not be construed as, and does not constitute, legal and compliance advice on any specific matter, nor does this message create an attorney-client relationship. Please note that the prior results discussed herein do not guarantee similar outcomes.
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