Oct. 30, 2019
Dear SEC, Im writing this in regards to comments on the new proposed rule S7-14-19, regarding dark/defunct companies. I’m not really sure why the SEC always comes up with decisions that should apparently try to „protect“ the small retail guys but more or less always does the opposite. It’s not different when the SEC started to suspend and revoke delinquent filers to the tune of thousands of stocks in the last few years, and it’s not different now when the SEC can’t even let the unregistered or de-registered pink sheet stocks do their thing without interfering there. I mean can the SEC even imagine how many millions of dollars were lost in retail accounts due to all these actions in the past? I don’t see how that is protecting the small guy. The OTC is an officially unregulated market, everybody knows this so if somebody decides to play this market, then the SEC should leave these guys alone. Everybody should know the risk and brokers can always make the risk clear to any participant and if he accepts it so be it. What good will it do when you suddenly declare hundreds if not thousands of stocks non tradeable meaning without any quotes, that’s just the completely wrong approach in my opinion if you really wanna protect the small retail guys. Please leave at least the non SEC filer OTC market alone. There is enough regulations already that harm us traders. Thanks for hearing me out on this. Regards, Thomas