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matrix

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matrix

Re: smartmoney77 post# 56497

Wednesday, 02/07/2007 5:28:23 PM

Wednesday, February 07, 2007 5:28:23 PM

Post# of 82841
Most brokers are clueless about OTC stocks.

An MM may want to quote a stock because they can make money. The real issue though is getting the Form 211 approved by NASD's OTC Compliance Unit. The OSU doesn't rubber stamp these particularly after a suspension. NASD won't be happy if an MM doesn't fully comply w/ the regs before submitting this form. Information accuracy trumps over greed and want here.

Your broker also doesn't seem to know the SEC cannot extend a suspension. They can issue a new one for a different reason but cannot extend the current. Several years ago, the SEC was sued and lost in court over this very issue.

-----
"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."
-- Warren Buffett

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