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Friday, September 22, 2023 11:05:00 AM
I found this, which means attorneys are required to check the documents more thoroughly in order to avoid copied numbers for example!:
OTC Markets also wants to remind Attorneys submitting Letters with Respect to Current Information of their obligations under the Attorney Letter Agreement.? Attorneys prepare, and/or assist in the preparation of disclosure materials that are posted in the OTC Disclosure & News Service by, or on behalf of Issuers. These materials are relied upon by public investors in making their investment decisions. Thus, OTC Markets, and the investing public, must be able to rely upon the integrity of in-house and retained lawyers who represent issuers.
Submission of an Attorney Letter expressing the opinion that adequate current information is available pursuant to the Pink Basic Disclosure Guidelines should occur only after you thoroughly review the issuer’s disclosure materials and are able to make such an assertion. OTC Markets is not in the business of assessing Issuer disclosure for completeness and providing deficiency letters. That is a responsibility you agreed to undertake on your client’s behalf.
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