West Coast Ventures Group Corp fka WCVC

[PennyHoper]

Speaking of broker-dealers (a.k.a market-makers) and what they have to know:
https://www.bakerlaw.com/insights/sec-adopts-amendments-to-rule-15c2-11/

Two Ways to Confirm Information. Before quoting an issuer’s security, a broker-dealer must confirm that certain information about an issuer and its securities is current and publicly available. The Amendment provides a broker-dealer with two ways to satisfy this obligation: 1) independently obtaining such information from issuers (or their agents) and reviewing it for material accuracy and reliability or 2) relying on a publicly available determination by a qualified IDQS.

The first market-maker has to verify that a company's financials are in order. Then virtually all other market-makers are allowed to 'piggy-back' off of the validation made by the first market maker so that they too can make a market for the security without having to do all of the same validation work.

Note point 1) above, how a market maker can do that without the company's financial information being public (yet).

Also note, the amendment that allows for this has been adopted by the SEC.

The Securities and Exchange Commission (the SEC or Commission) recently adopted amendments (the Amendment) to Rule 15c2-11 (the Rule) of the Securities Exchange Act of 1934 (the Exchange Act).