Replies to post #165225 on DD Support Board and Research Team

[janice shell]

I should have asked the OTCM guy why they didn't just put those stocks on the Expert Market. One of the problems I see with trading on an unsolicited basis is that an MM may request it because he has a client who wants to unload a position, and couldn't do it on the Greys. So he gets permission from OTCM, executes a few trades for the client, and then leaves. But the stock continues to trade unsolicited forever. Maybe that isn't how it's supposed to work, but it's how it evidently DOES work.

This is what OTCM said about unsolicited trades in 2013. The page in question has disappeared:

What are OTC Markets guidelines regarding the publication of unsolicited quotes?

OTC Markets has become increasingly concerned that the unsolicited quote exception in SEC Rule 15c2-11 is being abused by unscrupulous individuals to engage in questionable and possibly fraudulent activities in violation of the federal securities laws. OTC Markets, as a matter of policy, does not believe that the Unsolicited Quote Exemption should be used to circumvent FINRA's 211 process. As a result, effective February 6, 2006, OTC Markets is limiting the publication of unsolicited quotes to securities of seasoned issuers only. A seasoned security is generally defined as a security for which there has previously been a public market or a security of an issuer that has other seasoned securities.

OTC Markets generally will publish unsolicited quotations in securities that meet one of the following five conditions:

The Issuer of the securities is subject to Section 13 or 15(d) of the Exchange Act, is current in its filing obligations and has other seasoned securities currently trading on the NYSE, AMEX, NASDAQ, or quoted on OTCBB or OTC Link.

The securities were recently delisted from NYSE, AMEX, NASDAQ or deleted from the OTCBB;

The Issuer is a bank, savings and loan, or insurance company;

The securities were issued as part of a bankruptcy plan of reorganization; or

The security being quoted is a foreign ordinary, which is listed on a foreign exchange, or an ADR representing such ordinaries.

In order to publish an unsolicited quote for a security that meets one of the above conditions and is not already quoted on the OTC Link system, a broker should submit the Broker/Dealer Unsolicited Quote Entry form to OTC Markets Group.

Issuers of previously unseasoned securities that had quotations published on OTC Link prior to February 6, 2006 using the unsolicited quote exemption and continue to be quoted only on an unsolicited basis are required by OTC Markets to continue to make periodic disclosure using the OTC Disclosure and News Service. If the Issuer ceases to provide current information, OTC Markets may cease to allow broker/dealers to publish quotes in its securities.

http://www.otcmarkets.com/services/trading/faq

[janice shell]

Here's the form OTC Markets had MMs who wanted to trade a stock unsolicited back in 2011-2013 and probably later. I wonder if it's the same now:

https://www.otcmarkets.com/files/unsolicited-quote-form-1514935916031.pdf

[integral]

That sounds about right