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Wednesday, May 08, 2019 3:07:30 PM
lol I never once claimed or stated there isn't/wasn't any paper trails for folks who deal with PubCo's to get their hands on 144 stock, because without paper trails their certs are worthless!
And what I did say is that there isn't a compliance department out there within any broker/dealer firm who's going to say "Hi Bob, oh I see you want to rely on Rule 701 and clear your consultant restricted 144 shares in only 3 months"...and anyone who claims there is, doesn't know the current clearing landscape that governs consultants trying to clear paper on a full SEC Reporting Company, because there's no such rule for any consultant to rely on to attempt to clear OTC paper!
And since consultants by the very nature of their Public Company work are most always made privy to insider information 99% of the time...they will also fall under the SEC's rules & regulations that govern the sale of all insider/affiliate stock the majority of the time, no matter what paper trail is used by the PubCo to get them paper.
And what I did say is that there isn't a compliance department out there within any broker/dealer firm who's going to say "Hi Bob, oh I see you want to rely on Rule 701 and clear your consultant restricted 144 shares in only 3 months"...and anyone who claims there is, doesn't know the current clearing landscape that governs consultants trying to clear paper on a full SEC Reporting Company, because there's no such rule for any consultant to rely on to attempt to clear OTC paper!
And since consultants by the very nature of their Public Company work are most always made privy to insider information 99% of the time...they will also fall under the SEC's rules & regulations that govern the sale of all insider/affiliate stock the majority of the time, no matter what paper trail is used by the PubCo to get them paper.
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