The US Market allows shares to be listed on US exchanges without a form 211 via a 12g3-2(b) exemption. The 12g that allows this was effective as of October 10, 2008.
sec.gov/rules/final/20…
sec.gov/rules/final/20…
"The exemption allows a foreign private issuer to have its equity securities traded in the U.S. over-the-counter market without registration under Section 12(g)."
Both MMAT.US and TRCH.US are both actively trading on XTB, both charts show the chart for MMAT. Note that XTB does not allow US clients due to regulatory constraints
Exact_Perspective508 discovered this back in Sep 9, 2022
Exact_Perspective508 discovered this back in Sep 9, 2022
https://twitter.com/perspective508/status/1568333103399145474
OCC Memos in order
- June 21st, 2021 - OCC states that TRCH will become TRCH1 in 1 for 1 ratio
- June 25th, 2021 - OCC Memo comes out announcing a 1-for-2 reverse split, with TRCH1 changing to MMAT1 (Contracts)
- June 21st, 2021 - OCC states that TRCH will become TRCH1 in 1 for 1 ratio
- June 25th, 2021 - OCC Memo comes out announcing a 1-for-2 reverse split, with TRCH1 changing to MMAT1 (Contracts)
- July 13th, 2021 - OCC states that Torchlight Energy Series A Preferred Shares under the MMAT1 symbol will be halted due to expiration processing
- October 8th, 2021 - OCC states that MMTLP are not eligible for CNS settlement
- October 8th, 2021 - OCC states that MMTLP are not eligible for CNS settlement
- October 12th, 2021 - OCC states that MMTLP is now CNS settlement eligible at the NSCC
October 7th, 2022 - SEC states that public comments regarding rule changes were dropped.
sec.gov/rules/proposed…
sec.gov/rules/proposed…
This included:
- Reporting of loaned shares
- Prohibition Against Fraud, Manipulation, or Deception in Connection with Security-Based Swaps
- Position Reporting of Large Security-Based Swap Positions
- Reporting of loaned shares
- Prohibition Against Fraud, Manipulation, or Deception in Connection with Security-Based Swaps
- Position Reporting of Large Security-Based Swap Positions
- Short Position and Short Activity Reporting by Institutional Investment Managers
- Data Collection
- Data Collection
There were also proposed FINRA rule changes
- Financial Industry Regulatory Authority, Inc.; Proposed Rule Change to Amend FINRA Rule 6750 Regarding the Publication of Aggregated Transaction Information on U.S. Treasury Securities
- Financial Industry Regulatory Authority, Inc.; Proposed Rule Change to Amend FINRA Rule 6750 Regarding the Publication of Aggregated Transaction Information on U.S. Treasury Securities
- Financial Industry Regulatory Authority, Inc.; Proposed Rule Change To Amend the Codes of Arbitration Procedure to Modify the Current Process Relating to the Expungement of Customer Dispute Information
Unsponsored foreign securities are able to be listed on OTC exchange via ADRs without a form c211
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