Eline Entertainment Group Inc (EEGI)

[pennystockwallstreet]

Amended SEC Rule 15c2-11 Impact | A More Transparent, Global OTC Markets

"On Tuesday, September 28, 2021, amended SEC Rule 15c2-11 became effective. The modernized Rule sets minimum public company disclosure standards for broker-dealer quotations. Its implementation represents a transformational moment for OTC Markets Group, as a Qualified Interdealer Quotation System operator[1] — recognizing our mission-critical role[2] and aligning with the data-driven disclosure standards we’ve created as the core foundation of our OTCQX, OTCQB and Pink markets.

By requiring companies to provide current, public disclosure as a pre-requisite for general distribution of proprietary market maker quotes, the Rule facilitates better-informed, more efficient financial markets and upholds our commitment to investor protection. It codifies our role as the market operator to onboard new securities and monitor ongoing publication of company disclosure.

One week post the Rule’s effective date, preliminary analysis indicates that these changes created more transparency for investors while also significantly increasing the number of quoted global securities. Over 3,000 securities became eligible for public market maker price quotations on OTC Markets after meeting the new rule’s requirements.

Snapshot of High-level Numbers:

Nearly 1,000 companies subscribed to provide public disclosure in 2021
The total number of Proprietary (Market Maker) Quote Eligible securities increased to 10,016 – a 12% increase
2,247 former Pink No Information securities shifted to the Expert Market tier, where securities may only be quoted on an Unsolicited (customer order) basis. While this represents a large number of securities, it represented less than 5% of the total dollar volume
1,757 Pink No Information securities lost Proprietary (Market Maker) Quote Eligibility status
1,119 Grey Market securities gained Proprietary Quote Eligibility and shifted to either the Pink Current or Pink Limited tiers. These securities qualified under the Large Company Exemption available under amended 15c2-11. The Large Company Exemption is available to international securities which have total assets greater than $50 million, shareholder equity greater than $10 million and average worldwide dollar volume for the past 60 days greater than $100,000
No changes in Proprietary Quote Eligibility status for OTCQX and OTCQB securities

The Data above compares security level information on October 8th with data from September 27th (the final day of the prior rule set)."

More info here -Link:

https://blog.otcmarkets.com/2021/10/15/amended-sec-rule-15c2-11-impact-a-more-transparent-global-otc-markets/