SEC Issues Trading Suspenion of Crown Alliance
On October 22, 2013, the Securities and Exchange Commission (“Commission”) 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 Crown Alliance Capital Limited (“Crown Alliance”), of Ontario, Canada. The SEC temporarily suspended trading in the securities of Crown Alliance because of questions regarding the accuracy of Crown Alliance’s public filings concerning the company’s assets and shareholders and because of potentially manipulative conduct in the trading of its securities.
The SEC 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.
Brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11under 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 of the security.
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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