Boston, MA 05/07/2014 (wallstreetpr) – CANNABUSINESS GROUP (OTCMKTS:CBGI) has been temporarily stopped from trading by The U.S. Securities and Exchange Commission. The news came out recently that the US SEC has prohibited CBGI from any trading under the section 12(k) of Exchange Act 1934. The reason because of which the suspension was executed immediately is nothing but the accuracy and trustworthiness of the information that was made public by the company.
The commission has further asked assistance from FINRA in this matter. The SEC has also warned all the traders, buyers, sellers, brokers and shareholders of the company who might take any information of the company into consideration. They will be responsible for anything wrong happens to them, said commission. The SEC also made it clear in front of all the dealers that, under the Rule 15c2-11, no quotation can be entered during the suspension of the CBGI unless that information is fully complied according to the provisions stated by the commission.
According to the reports published by SEC, if any dealer has any confusion about the information, or if any quotation should be entered or not, then in such case he will have to contact the office of interpretation and guidance’s division of trading and markets. After getting the final approval from them only can he proceed further? In case of failure in doing as said by the department, the dealer himself will be responsible for future consequences.
If any dealer or broker wants more information about this matter, issues and consequences of this fact, then he can get in touch with Elisha L. Frank, Assistant Regional Director, Miami Regional Office of the Securities and Exchange Commission. She is the right person to assist anyone who has any issue or confusion about this matter. The further information about the suspension of CANNABUSINESS GROUP (OTCMKTS:CBGI) will be made public by SEC as soon as possible.
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