10.14.21
SFA is forming a task force for all interested members to discuss and ultimately establish a strategic response to SEC Rule 15c2-11. This rule regulates the publication of quotations in OTC markets and requires dealers to obtain and review issuer information prior to publishing quotations for the securities. 15c2-11 was initially issued decades ago and was designed to ensure adequate issuer disclosure for “pink sheet” small-cap equity securities before a dealer could post quotations about such issuers. The rule has never applied to fixed income, and while there is an express carve-out for municipal securities, there is no specific fixed income carve-out.
Please contact [email protected] if you would like to join the Task Force.