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Everyone aware of proposed SEC Rule regarding delinquent filers?

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chemist72   Tuesday, 10/08/19 01:39:49 PM
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Everyone aware of proposed SEC Rule regarding delinquent filers?

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

This is a huge 228 page document. I've only read bits and pieces of it. Below are a couple of parts that might be of general interest. Any additional interpretations would be welcomed.

What is the goal of this new Rule?
Quote:
...the Rule’s policy goal—of deterring broker-dealers from commencing quotations for quoted OTC securities that may facilitate a fraudulent or manipulative scheme....


How will they accomplish this?
Quote:
First, the proposed amendments would provide greater transparency to the investing public regarding issuers of OTC securities by requiring that certain information about the issuer and the security be current and publicly available before a broker-dealer can publish a quote for the security. This proposed amendment would allow retail investors to more easily access basic information about an issuer. Additionally, the proposed amendments would require that information be current and publicly available before a broker-dealer may rely on certain exceptions from the review requirement. In the absence of current and publicly available information, such exceptions would either be unavailable or more limited.



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