EGPI Firecreek Inc (EFIR)

[Nebuchadnezzar]

no news? ok. go EFIR

https://www.sec.gov/news/public-statement/clayton-otc-2020-09-16

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

he amendments facilitate transparency of OTC issuer information by:

Requiring to be current and publicly available certain specified documents and information regarding OTC issuers that a broker-dealer or qualified IDQS must obtain and review for the broker-dealer to commence a quoted market in an OTC issuer’s security (“information review requirement”);
Updating the “piggyback” exception, which allows broker-dealers to rely on the quotations of another broker-dealer that initially complied with the information review requirement, to require, among other things, that issuer information, depending on the issuer’s regulatory status, be current and publicly available, timely filed, or filed within 180 calendar days from a specified period; and
Requiring that issuer information be current and publicly available for a broker-dealer to rely on the unsolicited quotation exception to publish quotations on behalf of company insiders and affiliates of the issuer.
The amendments provide greater investor protections when broker-dealers rely on the piggyback exception by:

Requiring at least a one-way priced quotation;
Prohibiting reliance on the exception during the first 60 calendar days following the termination of a Commission trading suspension under Section 12(k) of the Exchange Act; and
Providing a time-limited window of 18 months during which broker-dealers may quote the securities of “shell companies.”
The amendments reduce unnecessary burdens on broker-dealers by:

Allowing broker-dealers to initiate a quoted market for a security if a qualified IDQS complies with the information review requirement and makes a publicly available determination of such compliance; and
Providing new exceptions, without undermining the Rule’s important investor protections, for broker-dealers to:
Quote actively traded securities of well-capitalized issuers;
Quote securities issued in an underwritten offering if the broker-dealer is named as an underwriter in the registration statement or offering statement for the underwritten offering, and the broker-dealer that is the named underwriter quotes the security; and
Rely on certain third-party publicly available determinations that the requirements of certain exceptions are met.
The amendments also streamline and remove outdated provisions from the Rule. The Commission is also issuing guidance that provides basic principles and examples of red flags to facilitate compliance with the information review requirement.

What’s Next?

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