Hi, I received this message on my TD Ameritrade account yesterday 4/26/2021. They have a huge list of stocks including HYII - See below. They are cracking down on these type of stocks. Sick of SEC causing problems for investors.
Dear Valued Client,
The U.S. Securities and Exchange Commission ("SEC) recently approved amendments to rules regarding investor protections when trading in Over the Counter ("OTC") securities. One potential impact of these rule changes is that when current information regarding issuers' financials is not available, and/or quotations are also unavailable, such securities may be designated as Caveat Emptor ("buyer beware"). These changes have the potential to create conditions where the security is difficult to sell or trade.
Effective May 25, 2021, TD Ameritrade will restrict orders in Caveat Emptor-designated securities to liquidation only. Only closing orders will be accepted after this time and existing orders to open new positions will be canceled. We are notifying you as you may have traded in or held positions in securities of this type within the past 12 months.