New rules for OTC stocks going into effect soon.

[Turbineguy]

I just found out about this:

SEC Adopts Amendments to Enhance Retail Investor Protections and Modernize the Rule Governing Quotations for Over-the-Counter Securities

https://www.sec.gov/news/press-release/2020-212

Trump era ruling just going into effect now. If you have OTC non-fully reporting stocks you are affected. I somehow find it hard to believe that suddenly the SEC wants to protect me from pump and dump schemes.

[elleng]

1. The SEC 'wants' what it's current majority 'wants,'

which varies with wants of the majority party; depends on who is in the White House at the time. (AND strength of new chair, which is determined by POTUS.)

[bucolic_frolic]

2. Once the crooks have moved on to a bigger fraud scheme, they plug the leaks in the old ones

And there are brokers, top 5 or 10 discount brokers, who can't price options promptly, who leave quotes dangling for hours, where some investors can't login for hours or during peak periods or during lunch hours, where spreads are obscene and deceptive. And the SEC is worried about pump-and-dump, 1980s style.

But you don't see anyone storming the SEC.