Rule 15c-211, Sponsoring Market Makers, and Form 211
Rule 15c-211 governs the process by which broker-dealers can initiate or resume quotations for securities in the OTC market, helping promote transparency and investor protection. To comply, a sponsoring market maker must review and submit required issuer information through Form 211 before quoting a security publicly.
For issuers seeking to have their securities quoted on the OTC Markets, the submission and clearance of Form 211 by a FINRA member market maker are crucial steps. This SEO-optimized guide explains FINRA Form 211 requirements, sponsoring market maker …
Read MoreFor companies quoted on the OTC Markets , maintaining “Current Information” status is essential to avoid downgrade or suspension. Under SEC Rule 15c2-11 , broker-dealers may publish or maintain quotations only when an issuer’s disclosures are accurat…
Read MoreIn September 2021, the Securities and Exchange Commission (“ SEC ”) adopted amendments to Exchange Act Rule 15c2-11, reshaping how securities become eligible for public quotation on over-the-counter (“OTC”) markets. Previously, issuers relied on a sp…
Read MoreThough nearly two months have passed since compliance with the Securities and Exchange Commission’s amended Rule 15c2-11 became mandatory on September 28, 2021, the OTC marketplace is still reeling from the effects of its implementation. The new rule…
Read MoreWe’ve written several times about the Securities and Exchange Commission’s (“SEC”) amendments to Rule 15c2-11, first proposed in September 2019 and adopted in September 2020 . The amended rule will finally become effective on September 28, 2021 . Tha…
Read MoreA “ Reverse Merger ” is a transaction whereby a privately held company becomes a Public Company (“Public Company” or “Public Company Candidate”) by acquiring or merging with a publicly traded company that is usually quoted on the OTC Markets OTC Pink…
Read MoreReaders looking to explore Rule 15c2-11, sponsoring market makers, and the Form 211 process in greater depth can browse the materials below to gain a clearer, more complete picture of how the rule works and what compliance entails.
