Monday, May 27, 2024 6:57:49 PM
"SEC Denies Anticipated OTC Expert Market
Dec 07, 2023
In short, the proposed order was formally denied as a component of the commission’s short-term agenda. Though this does not mean the suggestion won’t be revisited down the line, it puts at least a temporary end to the idea of an OTC Expert Market.
The OTC Markets requested the order from the SEC in an attempt to empower broker-dealers to continuously submit/publish proprietary securities quotations for riskier securities such as grey market and limited information symbols. The market for those quotations would have been limited to professional investors. Furthermore, this alternative market would not have complied with the recordkeeping and information review requirements as detailed in the revised 15c2-11 rule."
I believe that Expert Market should be abolished - as they exist to scam unsophisticated investors.
IG
The First Casualty of Emotion is Reason.
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