A publication from the SEC yesterday (for those of
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Posted On: 05/13/2020 10:43:37 PM
A publication from the SEC yesterday (for those of you who are interested in OTC Stocks):
https://www.sec.gov/news/speech/keynote-secur...-west-2020
A good read.
"Since February 7, the Commission has suspended trading in the securities of more than 30 issuers as a result of questions about the adequacy and accuracy of coronavirus-related information."
"expect there will be more trading suspensions related to COVID-19 and more fraud cases related to potential COVID-19 investment scams."
Be aware that any OTC Stock that is using the pandemic for a false PR can be suspended at any time.
Once OTC Market stocks are suspended they lose market makers and trade on the gray sheets/expert market until FINRA deletes the ticker.
My opinion is that this is giving the SEC a valid reason to clean up a lot of tickers on the OTC Markets. Especially since the SEC gave warnings beforehand. If your favorite ticker is touting COVID-19 Test Kits available from us!! ; I would exit asap. Unfortunately I only hold one ticker that is doing it. We'll see what happens.
https://www.sec.gov/news/speech/keynote-secur...-west-2020
A good read.
"Since February 7, the Commission has suspended trading in the securities of more than 30 issuers as a result of questions about the adequacy and accuracy of coronavirus-related information."
"expect there will be more trading suspensions related to COVID-19 and more fraud cases related to potential COVID-19 investment scams."
Be aware that any OTC Stock that is using the pandemic for a false PR can be suspended at any time.
Once OTC Market stocks are suspended they lose market makers and trade on the gray sheets/expert market until FINRA deletes the ticker.
My opinion is that this is giving the SEC a valid reason to clean up a lot of tickers on the OTC Markets. Especially since the SEC gave warnings beforehand. If your favorite ticker is touting COVID-19 Test Kits available from us!! ; I would exit asap. Unfortunately I only hold one ticker that is doing it. We'll see what happens.
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