Tudor Gold Corp V.TUD

Question about etrade..can you please help?

[tudor123]

Can somebody help? Etrade emailed me this, does this effect trading tudor gold in etrade? What is considered pink sheet OTC? Thanks!

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.

Here’s how to get more information about these changes and how they might affect you:

[fordster]

I'm guessing Tudor will conform to the mandate....I have the impression companies not in compliance will be delisted. I suspect all of us on otc will get something simular. I just don't see them not doing what they have to, to stay on otc. Anybody have any info?....Thanks for the post Tudor. 

[fordster]

So sorry...I assumed it was for Tudor. Hey Tudor, do you have any other pink sheets/otc stocks. This could pertain to one of them instead.  

[Mustang80]

Got the same from E*Trade I just have American Creek, Tudor & Stinger. Would calling the companies directly be a good idea, or will they in all likelihood comply?

[tudor123]

There is ton of confusion and etrade didn't do the great job of explaining it. Called etrade and ask it, and it seems like all eric sprott stocks are ok.  There are around 2,700 stocks that are OTC and tier  "pink no information" and none of the eric sprott stocks are there.  You have to call etrade and they will tell you how to screen what stocks are pink no sheet