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Saturday, May 31, 2014 2:51:34 PM
MDDD came back from the grey sheets too.
No, it didn't really. It's trading on an unsolicited basis. Same for CNTO. BUT neither of them filed a Form 211.
That's the most recent notice for MDDD on the Daily List. It hasn't been restored to the OTCBB.
Once upon a time, that's how nearly all formerly suspended stocks traded. Some people called them "one-legged Pinks". They had a bid and ask, but traded on an unsolicited basis. Around 2007 or so, the regulators evidently began cracking down, and the MMs stopped publishing quotes.
Since Mary Jo White recently said that suspension was a useful tool in part because afterwards the MMs weren't allowed to publish quotes, I don't understand why or how this has happened. I've written to FINRA and the SEC asking, but no answers have been forthcoming.
No, it didn't really. It's trading on an unsolicited basis. Same for CNTO. BUT neither of them filed a Form 211.
That's the most recent notice for MDDD on the Daily List. It hasn't been restored to the OTCBB.
Once upon a time, that's how nearly all formerly suspended stocks traded. Some people called them "one-legged Pinks". They had a bid and ask, but traded on an unsolicited basis. Around 2007 or so, the regulators evidently began cracking down, and the MMs stopped publishing quotes.
Since Mary Jo White recently said that suspension was a useful tool in part because afterwards the MMs weren't allowed to publish quotes, I don't understand why or how this has happened. I've written to FINRA and the SEC asking, but no answers have been forthcoming.
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