What is the 3 strikes rule for public companies traded on the OTCBB? On May 10, 2005, the National Association of Securities Dealers, Inc., now known as the Financial Industry Regulatory Authority ("FINRA"), through its subsidiary, the Nasdaq Stock Market, Inc. ("Nasdaq"), filed with the Securities and Exchange Commission (the "Commission") a proposed rule change to limit the eligibility for quotation on the OTCBB of the securities of an issuer that is repeatedly late in filing required periodic reports.
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OTCBB Suspension of Late Filers - 3 Strikes Rule
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