15c-211 Application to FINRA (Financial Industry Regulatory Authority)

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A 15c-211 statement/application for trading must be completed by a brokerage firm’s market maker who is in good standing with FINRA. An issuer cannot be charged for a 15c-211 –type registration. Nor is there a valid reason for any transfer agent to charge for this type of registration or to charge more than a considered industry standard set-up charge to assume the responsibilities to convert shareholder records onto the books of the transfer agent.

During th15c-211 process, FINRA will not speak with either the issuer or the transfer agent until all of the paperwork has been submitted and approved. The market makers will make their percentage on the trading that initially ensues after the statement is made effective by FINRA. DTCC (The Depository Trust & Clearing Corporation) will also have to approve and clear the issue, granting it basic eligibility to trade and clear through the National Settlement and Clearing Corporation, a subsidiary of DTCC.