The company must request for a trading halt, but the IIROC must approve it. The news by defintion must be material. This often moves the stock price. The guiding principle is having the same timely access for all investors to important company information.
Whatever the new is, it will probably determine the fate of the company. For better or worse, For richer or poorer... It's like the marriage vows. Many are married to this stock including myself.
IIROC Trade Halt - The Futura Loyalty Group Inc.
Vancouver, British Columbia--(Newsfile Corp. - October 16, 2012) - The following issues have been halted by IIROC:
| Company: | The Futura Loyalty Group Inc. |
| TSX-Venture Symbol: | FUT |
| Reason: | At the Request of the Company Pending News |
| Halt Time (ET) | 08:43 |
| | |
IIROC can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.