deficiency letter

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Deficiency letter

Notification from the SEC to a prospective issuer of securities that revisions or additions need to be made to the preliminary prospectus.

Deficiency Letter

A letter from the SEC stating that there is a problem with a particular filing, especially a prospectus. A deficiency letter is submitted to the filer if the SEC determines that there is a major omission or error in the filing. The company making the filing is expected to deal with the deficiency immediately and make an amended filing. Generally speaking, the submission of a deficiency letter delays a new issue and may be accompanied by a stop order, forbidding a new issue until the matter is resolved.

deficiency letter

A letter from the SEC indicating disapproval with one or more aspects of a security issuer's registration statement.
References in periodicals archive ?
The California Board of Accountancy is sending deficiency letters to almost 600 licensees for failing to respond to the most recent batch of CBA peer review inquiries.
In the deficiency letter issued to the Company in May, the Exchange indicated that, due to the similar nature of the deficiencies identified in the April and May deficiency letters, the Company is not required to submit an additional plan of compliance in connection with its failure to timely file the Form 10-Q.
PRA)(the "Company"), a leading long-term care provider, today announced that, on May 17, 2013, the Company received a deficiency letter from the NYSE MKT LLC (the "Exchange") indicating that the Exchange has determined that the Company is not in compliance with Sections 134 and 1101 of the Exchange's Company Guide (the "Company Guide") due to the Company's indication in its Form 12b-25, filed with the Securities and Exchange Commission ("SEC") on April 16, 2013, that the Company is not able to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2013 (the "Form 10-Q") with the SEC by the requisite deadline.
The new release, which combines older enhancements, can now track for lender-required policy characteristics and send deficiency letters when these requirements are missing.
NASDAQ: ETRM), the developer of medical devices using neuroblocking technology to treat obesity and other gastrointestinal disorders, announced today that on November 13, 2009 it received two Nasdaq Staff Deficiency Letters indicating that, for 30 consecutive business days, the Company's listed securities did not maintain the minimum Market Value of Publicly Held Share (MVPHS) of $15,000,000 as required by Listing Rule 5450(b)(2)(C) and did not maintain a minimum bid price of $1.
EnteroMedics previously announced that, on October 19, 2009, it received a Nasdaq Staff Deficiency Letter indicating that, for ten consecutive business days, the Company's common stock did not maintain the minimum Market Value of Listed Securities (MVLS) of $50,000,000 as required by Listing Rule 5450(b)(2)(A).
Signalife had previously received deficiency letters from AMEX pursuant to which it advised that Signalife would, as a condition for continued listing on AMEX, comply with AMEX's $4 million and $6 million stockholders' equity thresholds under AMEX Rules 1003(a)(ii) and (a)(iii), respectively.
NasdaqGM: TGIS), a leading operations and process improvement firm (the "Company"), announced today that it received two Nasdaq Staff Deficiency Letters on September 16, 2009 indicating that the Company no longer complies with (i) the minimum bid price requirements as set forth in Listing Rule 5450(a)(1) of the Nasdaq Stock Market, which requires that listed securities maintain a minimum bid price of $1.
Burgess from its Board of Directors, the Company received Nasdaq Staff Deficiency Letters dated February 25, 2008 and February 27, 2008 indicating that the Company was no longer compliant with the audit committee composition and independent director requirements, respectively, set forth in Marketplace Rule 4350.
However, our policy is to not publicly comment on any interim events such as minor or major deficiency letters or modification of the file to the FDA as long as we believe the company can ultimately gain a market approval.
The path to approval of any therapeutic product may involve interim events such as the agency's refusal to file the application, minor or major deficiency letters or modification of the application.

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