IEH Corporation faced a Section 12(j) proceeding for failure to comply with periodic filing requirements under the Exchange Act.
Despite initial delinquency, IEHC returned to compliance with its reporting obligations.
The Commission found it in the public interest to dismiss the proceeding after IEHC's remediation efforts.
Periodic Reporting Obligations
IEHC violated Section 13(a) and Exchange Act Rules but rectified the situation by becoming current with its filings.
Delays and Challenges
Delays in filing were attributed to difficulties in implementing a new inventory cost accounting system and pandemic-related disruptions.
Enforcement Actions
The Division of Corporation Finance warned of a revocation proceeding if delinquent reports were not filed, prompting IEHC's response and remedial actions.
- IEHC's securities registration faced potential revocation due to non-compliance with filing requirements.
- The company's stock was quoted on OTC Markets during the filing period, indicating continued trading activity despite the compliance issues.
IEH Corporation's proactive steps to address its filing deficiencies and return to compliance demonstrate a commitment to transparency and accountability in its reporting practices.