RE:RE:RE:RE:Trading discount ...It's not all OTC stocks. Sabina is fine with their accounting and accountability. The new rules are to prevent fraud by brokers who promote companies that don't disclose financials according to what I looked up. Here is part of the letter.
New rules will affect your ability to buy and sell “Pink No Information” securities, including at E*TRADE
On September 28, 2021, new requirements take effect that will impact the market for—and value of—certain “over-the-counter (OTC) securities” you currently hold or have held in the past. The new rules apply to “Pink No Information” OTC securities of companies that fail to publicly report and keep current financial and other company information and will restrict the ability of U.S. brokers, like E*TRADE from making these products generally available.
Some background on the new requirements
The Securities and Exchange Commission (SEC) recently adopted amendments to SEC Rule 15c2-11 governing the submission and publication of OTC quotations. These amendments will prohibit broker-dealers from submitting or publicly disseminating bid/ask quotations for OTC securities of issuers that do not meet enhanced information filing requirements.
Securities of issuers that make the required information publicly available by the deadline in the rule should not be affected.
What these changes mean for you
Starting September 28, 2021, you will no longer be able to buy or sell “Pink No Information” OTC securities through E*TRADE. Other restrictions related to the purchase of these securities may apply sooner. Please keep in mind that the upcoming changes will negatively affect the value of any “Pink No Information” OTC securities you hold now or in the future.
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