Coin Citadel (CCTL)

[I-Glow]

The Amendment to Rule 15c2-11 means the Piggyback rule

"Piggyback Exception

The Amendment modifies the provisions of the piggyback exception, which allows a broker-dealer to rely on the existing quotations of another broker-dealer that initially complied with the information review requirement of the Rule. The SEC amended this provision primarily to prevent broker-dealers from continuing to publish quotations for issuers that do not make current information publicly available."

"The piggyback exception provides a limited, conditional grace period to permit broker-dealers to continue to rely on the piggyback exception to publish quotations for an issuer whose Rule 15c2-11(b) information is no longer current and publicly available, timely filed, or filed within 180 calendar days from a specified period. Subject to certain conditions, this limited grace period permits broker-dealers to continue quoting securities for a period of up to 15 calendar days once a qualified IDQS or registered national securities association makes a publicly available determination that issuer information is no longer current and publicly available."

What this means is MMs can no longer use another MMs research to piggyback and quote the stock.

IG