Re: OTC Expert & Grey Market Restrictions
in response to
by
posted on
Nov 22, 2022 02:05PM
Zenith's BET Inhibitor ZEN-3694 is Currently Being Evaluated in Multiple Oncology Clinical Trials
Hmm. I'm still not convinced. Check this language:
Since September 2021, all buy orders were restricted on impacted U.S. OTC securities, while closing transactions (i.e., limit sell orders) were still being accepted.
On Wednesday, November 23, 2022, this rule will come into full effect. This means all BUYs and SELLs for securities listed in the U.S. Expert and Grey OTC Markets will be rejected and all open Good Til Date (GTD) orders will be cancelled. All closing transactions will no longer be permitted.
The first paragraph suggests that people have been unable to purchase expert market securities since September 2021, and you could only sell/liquidate from that date. The second paragraph suggests they are now removing that selling feature.
I'm pretty sure if people have been unable to purchase since September 2021, we would have heard about it. I understood the rule to impact quotations, not trading generally. I guess we'll see tomorrow.