Replies to post #96091 on Ayala Pharmaceuticals Inc (ADXS)

[thewellnessway]

That's an older article. This newer articles point to the SEC crack downs...

With the Securities and Exchange Commission cracking down on penny stocks, Merrill Lynch recently told its clients and financial advisers that it is putting restrictions on the purchase and sale of a large swath of low-priced securities.
"To ensure we are complying with SEC regulations and protecting the interests of our clients, we recently made changes to our policy regarding low-priced securities," a Merrill Lynch spokesman, Jerry Dubrowski, wrote in an email. As a result, certain transactions may be subject to restrictions, trading prohibitions or other limitations."
According to a source familiar with the moves, as of July, clients were no longer able to buy penny stocks through Merrill Lynch, and by the end of September, will no longer be able to sell them through the brokerage. The stocks will still be able to be transferred to a different account at another broker-dealer.
From this past Sept:
https://www.investmentnews.com/article/20180928/FREE/180929915/merrill-lynch-no-longer-will-accept-penny-stock-trades

https://www.cnbc.com/2018/09/28/bank-of-america-cracks-down-on-penny-stocks-with-purchase-ban.html