I just received this from Schwab. Anyone have more info or know how we'll be able to trade ADVC after August?
Learn how amendments to SEC Rule 15c2-11 impact your account(s)
On September 28, 2021, new amendments adopted by the Securities and Exchange Commission (SEC) go into effect to enhance investor protection and improve issuer transparency. These amendments restrict the ability of market makers to publish quotations for those companies that have not made required current financial and company information available to regulators and investors.
Ahead of the regulatory enforcement date, Schwab will only accept orders to liquidate positions (i.e. no new buy orders) starting in late August 2021. Please note: After the amendment officially goes into effect on September 28, 2021 it may be more difficult to liquidate these securities. Quoting and market liquidity may also be very limited.
What this means for your account(s).
You’re receiving this notification because you currently hold (or have held) the impacted securities noted at the end of this notice.
You may have multiple options to consider, such as:
Take no action. You are not required to sell these securities; however, starting in late August 2021 we will restrict these securities to liquidation-only transactions. You may continue to hold them, but you may have difficulty selling them in the future and there is no guarantee as to what their future value will be.
Place trades to liquidate. You may place trades to liquidate these securities now. Due to the uncertainly, we cannot guarantee there will be sufficient liquidity to close your position(s) in the future.
Transfer your positions to another financial institution. Other U.S. financial institutions are also impacted by this amendment so you may have difficulty transferring them out of Schwab. If you are interested in transferring the assets, please contact your other financial institution to initiate the transaction.
Thank you for your understanding in this matter. Guidance on and implementation of this amendment are rapidly changing, and we are committed to providing you with updated information once it is available. If you have any questions or need further assistance, please call us at 800-435-4000.
Securities you hold or recently held:*
Symbol CUSIP Company Name
ADVC 00761J206 Advant-e Corp.
