lol, I have no idea what he meant by "fully regulated". As you'll have noted, in some parts of the article he was just... doing words.
But it IS true that until 2000, there was no transparency at all about the trading of penny stocks; it was all done by phone. The OTCBB was lame, but FINRA didn't feel like improving it.
And OTC Markets does absolutely nothing about it because they can't. They are not a regulator for one, and even if they could, it is doubtful they would, since these are their clients and they want their money.
Not quite true. They certainly aren't a regulator--and now Coulson seems to be saying they don't want to be one, which I find a bit mendacious--but they can threaten them with a Caveat Emptor, and that's a threat they use. It seem to impress some people. They've also begun to insist on clear and easy-to-follow disclosure of information about current convertible notes.
Of course it's not perfect. But it's better than what came before, which was nothing. For doing research, it's at least a point of departure.
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