Potential Reasons For RejectionThe following points are...

Potential Reasons For RejectionThe following points are potential issues that can hinder DTC approval:
(DTC has accepted issuers with these issues below however, DTC eligibility is granted on a case by case basis.)
The issuer should be an SEC reporting company with no history of late filings.
The issuer should have a minimal history of name changes and/or reverse splits in the last five years prior to the eligibility application.
The issuer should have no persons associated directly or indirectly (stock promoters, lawyers, accountants) with the company that have ever been under investigation by the SEC.DTC will notify the participant if a legal opinion of counsel will be required.
The legal opinion should be written by a licensed securities attorney, in good standing with their bar and engaged in an independent private practice. Opinions of in-house counsel will not be relied upon by DTC.DTC requires that the securities lawyer writing the opinion NOT be a shareholder of the issuer.
DTC reserves the right to approve counsel whose opinion DTC is being asked to rely.
The issuer should have no record of being involved in a spam campaign, pump and dump scheme or any history of fraudulent activity throughout its corporate history.
Affiliates of the issuer should have no record of unregistered re-sales at any brokerage firm.

I particularly like the highlighted bit. This should shut some people up that refers to Brainchip as a pump and dump schemes, late or neglecting to report information the ASX , or in general being referred to as fraudulent. Debunked, GL shorters. At least by DTC standers witch means more to me than any anonymous poster on HC.