Sep. 5, 2025
The application of rule 15c2-11 to preferred securities has had a severely detrimental effect on the prices of long established reputable companies simply because their financial disclosures don't meet the specific letter of this rule. For example, KTBA should be excluded because it is the obligation of AT&T, yet it was relegated to the expert market and restricted from trading at nearly all brokerages. Rebecca Hamlen Sent from my iPhone