Analysis
July 22 completed-close refresh, safe FMP fallback, retained valid macro evidence, broad SEC scan, 51-symbol all-form submissions and filing review, QSI and GEMI readiness, 54-symbol decision coverage including XTND, six independent xhigh reviewer roles, and full validation.
Decision result
Completed no-action decision; QSI entered research-only C+, GEMI was rejected from ongoing coverage, every proposed security and reserve quantity is zero, and XTND remains not tradable.
Execution boundary
The already confirmed USD 3000 deposit remains the latest ledger event; no trade execution or new deposit is linked.
Confirmed execution
No confirmed ledger events are linked to this run.