OTC markets - Why some brokers like IB blocked ``unsolicited quotes`` stocks ?

I know SEC banned pink no information (now is expert market)

But some brokers like Interactive Brokers also blocked pink current stocks with alert ``Warning! This security is eligible for Unsolicited Quotes Only``

 

Many old stocks come from nasdaq are ``unsolicited quotes only``

 

Yeah, IB has some mistakes where the stock is Pink / Current and should be tradable but is flagged incorrectly and blocked under that dumb new SEC rule. I was told they’re working on it. I know OTC Markets is also changing 50-100 stock classifications every day, so it’s not surprising most brokers are a little behind trying to implement this.

also - this SEC rule sucks!

 

Yes, same problem with tradezero.

Etrade is ok

Some brokers like IB refuse opening new positions for pink current stocks with alert ``unsolicited quotes only``.

 

TradeZero only blocks pink sheet and OTCBB stocks that are NOT DTC eligible. We allow for full trading of all DTC eligible securities that priced $.10 or higher.

 

@def can you elaborate on this issue
I have OTC stock like PALAF PINK which I cannot buy because it says This contract can only be closed.

Now I have to buy the stock on the ASX market
How long is this going to take ?

 

Stocks like ATOWW, TRXDW, DNRWW is not tradable anymore - pink current stocks. Price > 0.10 and DTC eligible.

Any stocks with message from otcmarkets.com ``Warning! This security is eligible for Unsolicited Quotes Only``is closing only. Why ? Is just a error ?

 

These are not eligible due to an update of SEC Rule 15c2-11

On Tuesday, September 28, 2021, new amendments to Rule 15c2-11 under the Securities Exchange Act of 1934 go into effect that will impact the market for certain over-the-counter (OTC) securities classified as Pink No Information, Grey Market, and Expert Market OTC securities (collectively, “Impacted OTC Securities”). These amendments restrict the ability of broker-dealers, like TradeZero America, to publish quotations for those companies that have not made required current financial and company information available to regulators and investors. As a result, the changes may restrict, or potentially prohibit, a customer’s ability to execute transactions and/or close current positions in Impacted OTC Securities.

 

yes, but these securities are not pink no information, grey market or expert market.

Stocks like TRXDW, DNRWW are pink current stocks

https://www.otcmarkets.com/stock/DNRWW/overview - PINK CURRENT

 

Yes but they may be late on their filings which is why they arent quoting