On February 20, 2019, the Securities and Exchange Commission (the “SEC”) announced the filing of a complaint (the “Complaint”) against a number of persons, including a broker-dealer, a transfer agent, certain of their principals and others (the “Defendants”) for their roles in creating a number of purported “shell companies” between 2009 and 2014.
On February 19, 2019, the OTC Markets Group announced updated guidelines for its “Pink Tier” basic disclosure and related “Attorney Letter” regarding the availability of an issuer’s “current public information.”