Sino Agro Food Inc (fka SIAF)

[NewJerichoMan]

Question for a lawyer.

My reading is that $SIAF, in its current state, along with 3,000 other stocks, is going to be relegated to the Grey Market. What is your opinion?

https://www.sec.gov/news/press-release/2020-212

September 16, 2020 - "The Securities and Exchange Commission today adopted amendments to Exchange Act Rule 15c2-11...

...The Rule will become effective 60 days following publication of the amendments in the Federal Register. The Rule will have a general compliance date that is nine months after the effective date as well as a compliance date that is two years after the effective date regarding provisions to require an issuer’s financial information for the last two fiscal years to be current and publicly available."



https://www.tradersmagazine.com/departments/regulation/exploring-the-investor-impact-of-an-sec-rule-proposal/

"However, under the rule proposal, more than 3,000 “No Information” securities that do not make current information available would no longer be eligible for public quoting. Without an alternative solution, these securities would instead be relegated to the Grey market. Transactions in Grey market securities have no public quote, forcing brokers to source liquidity and pricing primarily over the phone without data-driven technology. Investors would then suffer from the lack of price discovery and broker-dealers’ inability to utilize technology or ensure best execution. Some securities may no longer be traded or cleared by brokers or market makers because of expanded regulatory obligations.

Sophisticated, independent investors willing to take on riskier investments worry that without a regulated electronic trading market, the value of their investments will be depleted, destroying millions in shareholder value.