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WASHINGTON/NEW YORK (Reuters) - As many as 2,000

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Apophis   Monday, 09/27/21 02:54:21 PM
Re: VeronicaFox post# 66008
Post # of 66035 
WASHINGTON/NEW YORK (Reuters) - As many as 2,000 companies could disappear from the off-exchange "pink sheets," long a favorite of retail investors, when a new rule aimed at stamping out fraud in this notoriously risky enclave of U.S. equities markets comes into effect next week. The Securities and Exchange Commission (SEC) rule boosts investor disclosures by requiring off-exchange issuers, frequently penny-stock companies that do not meet the main exchanges' listing standards, to make accurate, up-to-date financial information publicly available. Due to a loophole in the current rules, around 2,000 of the roughly 11,000 companies quoted on the Pink Market operated by New York-based OTC Markets Group ( OTCM ) do not publicly provide such information.


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