InvestorsHub Logo
Followers 241
Posts 6903
Boards Moderated 0
Alias Born 01/21/2017

Re: Jagman5 post# 41324

Tuesday, 07/13/2021 5:43:30 AM

Tuesday, July 13, 2021 5:43:30 AM

Post# of 69249
It isn't just TDA - I got my notice from etrade at least a month ago. This isn't anything to do with brokers - it is a new SEC law that all the brokers must abide by.
Essentially, the law says that the stock of delinquent companies cannot be purchased until the company is current. And, if it can't be purchased, exactly how do you think you can sell it? You can't, because no one can buy it. It won't even be on the pink market any more.

Here is everything you need to know about the new rule changes:
SEC Rule Changes
As can be seen, these are the key dates:
June 30, 2021 – Deadline for issuers to provide required disclosures. HPIL met that deadline.
September 28, 2021 – Rules compliance date. Disclosure failure will result in removal from Pink Market. (And that means you can't trade it.)