NSAV Holding Inc (NSAV)

[PayDirt!]

I’m glad $NSAV is up to date on their filings. Many companies will be dropped from the OTC and will not be able to trade their shares….

Why The Rule Specifically Targets Retail Investors
Though there are some existing, market-based protections currently in place for investors buying and selling securities of companies without up-to-date financials — such as the warning flags that OTC Markets Group uses — the new rule goes a step further.

“The SEC’s philosophy with this rule is that when a retail investor sees activity like real-time quoting data in a security that has no information, they’re more susceptible to fraud,” said Dan Zinn, General Counsel of OTC Markets Group.

In addition to the potential Expert Market, market participants may seek exemptive or No-Action relief under the rule.

“Increasing access to information about the companies in this marketplace will make it more difficult for fraudsters to prey on retail investors,” SEC Commissioner Hester Peirce wrote.

Other Exceptions To The New Rule
The new rule will allow for broker-dealers to “rely on publicly available determinations” from FINRA or other associations, like OTC Markets, when quoting OTC securities.

“We now get to determine for brokers whether a company has met their obligations under this rule,” said Zinn. “We will publish our determination that a specific company is qualified under 15c2-11,’ and every broker can rely on that.”

The updated rule goes into effect on September 28, 2021


https://finance.yahoo.com/news/why-retail-investors-no-longer-181732683.html