Independent Film Development Corp. (IFLM)

[THall]

Renee seems to think it will go into effect after 60 days. Since she is the closest thing to a SEC expert that Im aware of I was taking her post as fact.

Renee Member Level Monday, 09/30/19 10:03:28 AM
Re: None 1.111
Post # of 6590

Last week the SEC filed a proposal that will become effective after the 60 day period for comments has expired.

Essentially the proposed RULE will remove all 15c2-11 qualifications for Market Maker representation when there is NO CURRENT information/disclosures from every OTC stock. This RULE will adversely affect every delinquent SEC registered stock and every not-registered stock on the OTC that has no current info/disclosures.

This RULE will diminish the need for SEC Suspensions where the SEC has to spend time to find delinquent SEC Registered stocks and OTC stocks that DO NOT have any current information. The new RULE will place all responsibility on Brokers and Market Makers to ensure ALL information and disclosures are current, and if not current to remove their quotation services, automatically placing those stocks on the Grey Market by default.


https://www.sec.gov/rules/proposed/2019/34-87115.pdf