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Posted On: 08/18/2021 6:20:50 PM
Post# of 9144
As Ray? reported earlier TDA has adjusted the date for their prohibition against buying stocks impacted by the new 15c2-11 rule, which rule is effective Sept 28
part of TDA's message is:
"On September 28, 2021, new amendments adopted by the U.S. Securities Exchange Commission (SEC) go into effect to enhance investor protection and improve issuer transparency. These amendments restrict the ability of market makers to publish quotations for those companies that have not made required current financial and company information available to regulators and investors.
We previously communicated that ahead of the regulatory enforcement date, we will only accept orders to liquidate impacted positions (i.e. no new buy orders) starting August 13, 2021. With the fluid nature of the situation and to better align our efforts across the combined company, we have adjusted the date for restricting the securities to on or after September 3, 2021. After the amendment officially goes into effect on September 28, 2021, it may be more difficult to liquidate these securities. Quoting and market liquidity may also be very limited."
the list of over 1900 stocks (as of Aug 9) impacted by the new rule includes at least some grey stocks; e.g., the one below TORI showing a fairly typical grey illiquidity- when ppl hear rumor or whatever re such stocks the pps and trading may shoot thru the roof for a day or 2 or longer but then usually falls back to their normal inertial lethargy.
https://www.otcmarkets.com/stock/YORI/overview
part of TDA's message is:
"On September 28, 2021, new amendments adopted by the U.S. Securities Exchange Commission (SEC) go into effect to enhance investor protection and improve issuer transparency. These amendments restrict the ability of market makers to publish quotations for those companies that have not made required current financial and company information available to regulators and investors.
We previously communicated that ahead of the regulatory enforcement date, we will only accept orders to liquidate impacted positions (i.e. no new buy orders) starting August 13, 2021. With the fluid nature of the situation and to better align our efforts across the combined company, we have adjusted the date for restricting the securities to on or after September 3, 2021. After the amendment officially goes into effect on September 28, 2021, it may be more difficult to liquidate these securities. Quoting and market liquidity may also be very limited."
the list of over 1900 stocks (as of Aug 9) impacted by the new rule includes at least some grey stocks; e.g., the one below TORI showing a fairly typical grey illiquidity- when ppl hear rumor or whatever re such stocks the pps and trading may shoot thru the roof for a day or 2 or longer but then usually falls back to their normal inertial lethargy.
https://www.otcmarkets.com/stock/YORI/overview
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