Yes, that's entirely true. Much of what happens at the SEC has to do with the interests and objectives of one person: the chairman.
But as it happens, and rather unusually, he's appalled by the rampant fraud in the OTC market, and he's said so a number of times, in a number of places. And that's why we have a new proposed rule intended to amend Rule 15c2-11 in ways that will require issuers to provide "current information" unless they want to find themselves unable to trade at all.
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