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Universal Security warned by NYSE

Universal Security Instruments Inc., of Owings Mills, said it received a letter from the New York Stock Exchange warning that it faces disciplinary action for failing to comply with the exchange’s listing standards governing filing of financial reports.

The manufacturer of safety and security equipment has twice delayed filing with the Securities and Exchange Commission its Form 10K annual report for the fiscal year ended March 31, 2014, citing “unforeseen delays” in the completion of financial statements of its 50 percent-owned Hong Kong Joint Venture.

The company said Friday it is “working diligently” to submit a compliance plan by a July 29, 2014, deadline, in order to avoid triggering delisting proceedings.