SEC Suspends Trading of Onyx Service & Solutions

Jack Humphrey, Regulatory journalist
January 31, 2012 /

The Securities and Exchange Commission announced the temporary
suspension of trading in the securities of Onyx Service & Solutions, Inc. of Greenwood Village, CO commencing at 9:30 a.m. on January 27, 2012, and terminating at 11:59 p.m. on February 9, 2012.

The Commission temporarily suspended trading in the securities of ONYX because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, the company’s business projects and prospects.

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 the company.

Further, 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 has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff in the Division of Trading and Markets, Office of Interpretation and Guidance, at (202) 551-5777.

If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to ONYX 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.

 

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