SEC proposed rule change on non-reporting dark stocks that will limit trading

[TBW]

Not sure if everyone saw this SEC document https://www.sec.gov/news/press-release/2019-189 or this blog post about it http://www.nonamestocks.com/2019/10/sec ... tocks.html (where I found out about this) but it discusses possible SEC changes that would not allow stocks to be traded unless there has been published financials in the past 6 months. It puts the onus on the broker to make sure they have the information, or the broker cannot quote the shares. This is clearly backwards. Fine companies for not providing the information required!

 

I don't think the SEC realizes that companies go dark on purpose, some of the reasons being, to try to ultimately take their company out at a cheaper price, or to conceal how much management is paying themselves, etc.

 

I plan on commenting when I have more time and I encourage everyone else to do so.

[Foreign Tuffett]

Yes, we did see it as there is already an active thread on this very subject.

[BTShine]

Foreign Tuffet,

 

Do you have the link to the thread?

[Foreign Tuffett]

Foreign Tuffet,

 

Do you have the link to the thread?

 

You are trolling, right? Either way, here you go:

 

http://www.cornerofberkshireandfairfax.ca/forum/general-discussion/proposed-new-sec-rules-for-otc-securities-relevant-for-us/

[TBW]

Oops! Sorry didn't realize that. Thought the amount of comments on sec website was low and that perhaps people hadn't seen it. I too would be interested in reading the other thread.