MuniMae Confirms Resolution to Trading Delay with SEC and FINRA
Municipal Mortgage & Equity, LLC (OTC: MMAB) has confirmed with both the Securities and Exchange Commission ("SEC") and the Financial Industry Regulatory Authority ("FINRA") that the final procedural hurdles required to resume trading in our common shares are complete. As a result we expect FINRA to complete the removal of the trading restriction on the Company's common shares which should be effective tomorrow. The Company has confirmed that we will continue to trade under our prior trading symbol, MMAB, when trading resumes.
Broker-dealers that intend to act as market-makers in our shares should file the requisite Form 211 with FINRA at this time, if they have not already done so. The Company expects initial trading to be at a lower volume and at higher bid/ask spreads relative to historical experience. These conditions could persist until enough broker-dealers have entered the market on behalf of clients and pre-suspension market-making activities resume at more traditional levels. We believe that trading will return to normal over the next month, but there can be no assurances in this regard.
We appreciate the patience shown by our shareholders and market-makers throughout the past two weeks