The upcoming implementation of amended SEC Rule 15c2-11 will require that all companies quoted on our markets must disclose current information on a continuous basis, effective September 28, 2021.
Impacted Pink companies should provide the required disclosure to OTC Markets by June 30th. This will ensure that our Issuer Compliance Team has sufficient time to review and update market status for companies prior to the rule’s compliance date on September 28th. Securities that do not meet the Rule’s disclosure standard will have their public quotes removed from Pink as of the September deadline.
There was no penalty mentioned. It was a strong recommendation to be current. Mcic already filed the fins. But they must get business into the shell by Sep 28 imo.