Just came across a reference to a letter sent out by TDAmeritrade about stocks that will be restricted to liquidation only, no new purchases starting mid-Aug.
The new requirements are the OTC issuers would make “current information” available to prospective investors. Issuers are reminded that the deadline for compliance is just around the corner.
Sounds like the new requirements will eliminate all of these ground floor Custodian plays before becoming pink current and provide current information to investors.
Anyone have any further knowledge on this or had any insight from Moody/Denunzio or other OTC Custodians?
Definitely not what I wanted to find out. I just opened an account at TDA specifically buy these custodian plays. But since its SEC rule, should be across the board... Thanks
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