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Wednesday, January 22, 2020 9:06:20 AM
Essentially the 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.
Stocks can go to the Grey Market by default as well as 100's of other no-disclosure stocks that will lose their Market Maker representation.
There are several stocks already effected
https://www.sec.gov/rules/proposed/2019/34-87115.pdf
Because something is in writing doesn't mean its public knowledge
Pictures can be altered , photoshopped ,Any date/time could be added to them
Phone calls are an important part in doing DD
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