DD Support Board and Research Team

[janice shell]

Amazingly enough, that isn't entirely clear. OTC Markets wanted to send those tickers to its "Expert Market", which it's been operating for a couple of years now. But though they liked to think of it as a real market, it's just another of their tiers. While the amendments to Rule 15c2-11 were in the comment stage, OTCM lobbied the SEC strongly, asking that they be allowed to create and operate this market, which, they hoped, would have published quotes for broker-dealers, institutions, and accredited investors.

They appear to have pushed too hard. An annoyed Gary Gensler let them know that was not a priority for him:

This proposed order is not on the Chair’s agenda in the short term. Accordingly, on September 28, 2021, the compliance date for the amendments to Rule 15c2-11, we expect that broker-dealers will no longer be able to publish proprietary quotations for the securities of any issuer for which there is no current and publicly available information, unless an existing exception to Rule 15c2-11 applies.

https://www.sec.gov/news/public-statement/proposed-expert-market

And so it appears the affected tickers will lose compliance with Rule 15c2-11 on the 28th. They will then presumably be moved to the Grey Market immediately, or perhaps three or four days later. The loss of compliance with the Rule is triggered by four trading sessions in which there are no published quotations for the stock.