<SEC-DOCUMENT>0001096906-17-000583.txt : 20170830
<SEC-HEADER>0001096906-17-000583.hdr.sgml : 20170830
<ACCEPTANCE-DATETIME>20170830165611
ACCESSION NUMBER:		0001096906-17-000583
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20170824
ITEM INFORMATION:		Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
FILED AS OF DATE:		20170830
DATE AS OF CHANGE:		20170830

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SECURITY NATIONAL FINANCIAL CORP
		CENTRAL INDEX KEY:			0000318673
		STANDARD INDUSTRIAL CLASSIFICATION:	FINANCE SERVICES [6199]
		IRS NUMBER:				870345941
		STATE OF INCORPORATION:			UT
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-09341
		FILM NUMBER:		171061297

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 57220
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84157
		BUSINESS PHONE:		8012641060

	MAIL ADDRESS:	
		STREET 1:		PO BOX 57220
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84157

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SNL FINANCIAL CORP
		DATE OF NAME CHANGE:	19910401
</SEC-HEADER>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Washington, D.C.&#160; 20549</div>

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<div style="FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">FORM 8-K</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">CURRENT REPORT</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">PURSUANT TO SECTION 13 OR 15(d) OF THE</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SECURITIES EXCHANGE ACT OF 1934</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Date of Report (Date of Earliest Event Reported): August 24, 2017</div>

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<div style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center"><u>SECURITY NATIONAL FINANCIAL CORPORATION</u></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Exact name of registrant as specified in this Charter)</div>

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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 180pt; VERTICAL-ALIGN: top; TEXT-ALIGN: center; align: right"><u>&#160; &#160; &#160; &#160; &#160; 000-09341&#160; &#160; &#160; &#160; &#160; </u></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: center"><u>&#160; &#160; &#160; &#160; &#160; &#160; 87-0345941&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </u></td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 216pt; VERTICAL-ALIGN: top; TEXT-ALIGN: center; align: right">&#160;(State or other jurisdiction of incorporation)</td>
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<div style="TEXT-ALIGN: center"><u>5300 South 360 West, Salt Lake City, Utah</u></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Registrant's Telephone Number, Including Area Code:&#160; <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>(801) 264-1060</u></font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center"><u>Does Not Apply</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>see</u></font> General Instruction A.2 below):</div>

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<div style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">[&#160; ]</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 27pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>

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<div style="TEXT-ALIGN: left">[&#160; ]&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 49.5pt; TEXT-INDENT: -49.5pt">Item 3.01.&#160;&#160; <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On August 24, 2017, Security National Financial Corporation (the "Company") received notice (the "Notice") from the Listing Qualifications Department of the NASDAQ Stock Market ("Nasdaq") indicating that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) because the Company had not yet filed its Quarterly Report on Form 10-Q for the period ended June 30, 2017. The Notice did not have an immediate effect on the listing of the Company's Class A Common Stock, and the Class A Common Stock would continue to trade uninterrupted under its current trading symbol, "SNFCA" on the Nasdaq.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Nasdaq indicated in its Notice to the Company that the Company had 60 days to submit a plan to regain compliance. If Nasdaq accepts the Company's plan, it may grant an exception of up to 180 calendar days from the Form 10-Q due date to regain compliance. If Nasdaq does not accept the Company's plan, the Company would have the opportunity to appeal that decision to a Nasdaq Hearings Panel before any change to listing occurs.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As previously disclosed in the Company's Notification of Late Filing on Form 12b-25, filed with the Securities and Exchange Commission (the "SEC") on August 14, 2017, the Company reached the conclusion on August 1, 2017 that its audited financial statements as of December 31, 2016 and 2015, and for the three years ended December 31, 2016, 2015, and 2014, and the Company's unaudited interim financial statements for the quarterly period ended March 31, 2017, and the interim periods in 2016 and 2015 (the "Restated Periods") should not be relied upon due to errors identified in such financial statements.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On August 3, 2017, the Company's Audit Committee met to discuss Management's recommendation that because of these prior period errors, the Company should provide a comprehensive restatement for all Restated Periods by means of filing an amended Annual Report on Form 10-K for the fiscal years ended December 31, 2016 and 2015, and an amended Quarterly Report on Form 10-Q for the period ended March 31, 2017. These restated reports were to be completed and filed with the SEC before the Company's Quarterly Report on Form 10-Q for the period ended June 30, 2017, could be completed and filed. The Audit Committee unanimously approved Management's recommendation.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On August 25, 2017, the Company completed and filed with the SEC a comprehensive restatement for all Restated Periods by means of an amended Annual Report on Form 10-K for the fiscal years ended December 31, 2016 and 2015 and an Amended Quarterly Report on Form 10-Q for the period ended March 31, 2017. Also on August 25, 2017, following the filing of the amended Form 10-K and the amended Form 10-Q, the Company filed its Quarterly Report on Form 10-Q for the period ended June 30, 2017.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On August 28, 2017, the Company received notice in a letter from the Listing Qualifications Department of Nasdaq indicating that based on the August 25, 2017, filing of the Company's Form 10-Q for the period ended June 30, 2017, the staff had determined that the Company is now in compliance with Nasdaq Listing Rule 5250(c)(1). Thus, according to the letter, the matter is now closed. As a consequence, the Company is no longer required to submit any plans to Nasdaq to regain compliance.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SIGNATURES</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>

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<td style="WIDTH: 38%; FONT-WEIGHT: bold" valign="top" colspan="2">SECURITY NATIONAL FINANCIAL CORPORATION</td>
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<td style="WIDTH: 35%" valign="top">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (Registrant)</td>
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<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Date: August 30, 2017<font style="FONT-SIZE: 1px; WIDTH: 198pt; DISPLAY: inline-block">&#160;</font></div>
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<div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">By: </div>
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<td style="WIDTH: 35%; BORDER-BOTTOM: #000000 2px solid" valign="top" nowrap="nowrap" align="left">/s/&#160;Scott M. Quist</td>
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<td style="WIDTH: 35%" valign="bottom" nowrap="nowrap" align="left">Scott M. Quist, Chairman, President and</td>
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<td style="WIDTH: 35%" valign="top">&#160;&#160;&#160;&#160; Chief Executive Officer</td>
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