Whether you are trading on Fidelity, Schwab, E*TRADE, or Robinhood, all major brokerage firms require investors to acknowledge or sign digital risk agreements/waivers before trading micro-cap OTC stocks.
This isn't just broker policy—it’s driven by federal law and securities regulations.
If you're buying OTC shares in a standard 401K, you either forgot they clicked through the disclosure when opening/enabling the account, or they are misrepresenting how their account is set up.
§ 240.15g-2 Penny stock disclosure document relating to the penny stock market.
(a) It shall be unlawful for a broker or dealer to effect a transaction in any penny stock for or with the account of a customer unless, prior to effecting such transaction, the broker or dealer has furnished to the customer a document containing the information set forth in Schedule 15G, § 240.15g-100, and has obtained from the customer a signed and dated acknowledgment of receipt of the document.
https://www.law.cornell.edu/cfr/text/17/240.15g-2
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