In the interest of being upfront … my memory was hugely faulty, it wasn't a .0001 stock, but a .01x stock (ANTS). I guess I was expecting it to break .10. Maybe it was SEC registered.
I do know OTC stocks can be halted, but the reasons aren't entirely clear to me. Investopedia says the SEC can halt "any" publicly traded company for up to 10 days. If that "any" only applies to SEC registered stocks, it looks like FINRA can also halt an OTC stock.