The U.S. Securities and Exchange Commission ("SEC) recently approved amendments to rules regarding investor protections when trading in Over the Counter ("OTC"
![](/images/icons/icon_wink.gif)
securities. One potential impact of these rule changes is that when current information regarding issuers' financials is not available, and/or quotations are also unavailable, such securities may be designated as Caveat Emptor ("buyer beware"
![](/images/icons/icon_wink.gif)
. These changes have the potential to create conditions where the security is difficult to sell or trade.
Effective May 25, 2021, TD Ameritrade will restrict orders in Caveat Emptor-designated securities to liquidation only. Only closing orders will be accepted after this time and existing orders to open new positions will be canceled.