Regulatory Alerts2019-10-30 | 2019-21260Added · Updated
Publication or Submission of Quotations Without Specified Information
The Securities and Exchange Commission proposes amendments to Rule 15c2-11 to enhance investor protection in the over-the-counter market by requiring that issuer information be current and publicly available before broker-dealers publish quotations. The proposal limits existing exceptions, such as the piggyback exception, to prevent fraud and manipulation while introducing new exceptions to reduce regulatory burdens for securities with significant trading volume or those issued in underwritten offerings. Additionally, the Commission seeks comment on the potential establishment of information repositories to further modernize market transparency and efficiency.
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