OTC Markets Direct – Bypassing the Sponsoring Market Maker Under SEC Rule 15c2-11

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Issuers may now work directly with OTC Markets through its OTCIQ Portal, bypassing the sponsoring market maker while maintaining full compliance under Rule 15c2-11.

SEC to Formalize “Innovation Exemption” by Year-End: What It Means for Digital Asset Issuers and Market Participants

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The U.S. Securities and Exchange Commission (SEC) is preparing to formalize a long-discussed “innovation exemption” by the end of 2025, according to recent statements from Chair Mark Atkins. The initiative is designed to provide regulatory flexibility for emerging… Read More

The Role of Transfer Agents in OTC Markets Compliance

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In the OTC Markets ecosystem, transfer agents play a critical — yet often overlooked — role in ensuring compliance, shareholder transparency, and investor confidence. For issuers quoted on the OTCQB, OTCQX, or Pink Current tiers, maintaining a reliable and SEC-registered transfer agent is essential to sustaining market integrity and avoiding compliance downgrades.

Uplisting from OTC Markets to Nasdaq or NYSE

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Uplisting from the OTC Markets to Nasdaq or NYSE American represents a pivotal transition for emerging companies seeking greater liquidity, institutional visibility, and enhanced credibility. This expanded guide outlines the financial, governance, and regulatory requirements — including SEC registration, FINRA Rule 6490 compliance, PCAOB audit standards, and market readiness — that issuers must meet to successfully uplist. 

When Short Sellers Hit OTC Markets Stocks – Securities Lawyer 101

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Short selling — the sale of borrowed shares with the expectation of repurchasing them later at a lower price — plays a legitimate role in market efficiency. However, in the Over-the-Counter (OTC) Markets, where liquidity and transparency remain limited, short selling can be disruptive and manipulative when misused.

OTC Markets Direct: Sponsoring Market Makers Bypassed Under Rule 15c2-11

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Learn how issuers can go public on the OTC Markets without a sponsoring market maker under SEC Rule 15c2-11. Hamilton & Associates Law Group explains the Initial Information Review process, FINRA coordination, and ongoing disclosure obligations.

The SEC’s Inspector General Calls for Overhaul of CorpFin’s Disclosure Review Process

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The U.S. Securities and Exchange Commission’s Office of Inspector General (OIG) has released a critical audit evaluating how the Division of Corporation Finance (“CorpFin”) conducts its disclosure review program. The report highlights procedural gaps, incomplete guidance, and inadequate… Read More

Texas Stock Exchange Nears Launch After SEC Approval — A New Challenger to NYSE and Nasdaq

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Published: October 6, 2025 In a landmark decision that could alter the balance of power in U.S. capital markets, the Texas Stock Exchange (TXSE) has received approval from the U.S. Securities and Exchange Commission (SEC) to operate as… Read More

What Happens at the SEC During a Government Shutdown?

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In its “Operations Plan Under a Lapse in Appropriations and Government Shutdown,” the SEC lays out with surprising candor the bare-bones framework it must follow when Congress fails to fund it. Here’s a breakdown of what the SEC… Read More

SEC Takes Action to Curb Skyrocketing Costs of Consolidated Audit Trail

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The CAT, mandated by Rule 613 of Regulation NMS following the 2010 Flash Crash, was intended to enhance market surveillance by creating a comprehensive audit trail of trading activity.

Restricted Stock Q&A — 2025 Edition

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Prepared by Hamilton & Associates Law Group, P.A. www.securitieslawyer101.com Introduction Restricted and control securities are common in private placements, employee compensation, and merger transactions. Although these shares are “restricted” at issuance, they may later become eligible for resale… Read More

Rule 144 Resales of Restricted Securities of Shell Companies and Former Shell Companies

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Rule 144(i): The Restriction on Shell Company Resales – What Stockholders and Issuers need to know.

Selling Private Placement Shares on Forge Global, Nasdaq Private Market, or Illiquidx

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Company shareholders, whether employees, founders, or early investors, are increasingly looking to secondary marketplaces like Forge Global, Nasdaq Private Market (NPM), and Illiquidx to sell the shares they purchase in exempt offerings such as Regulation D. We often… Read More

Deep-Sea Mining, Public Market: Capital, Risk, and Regulatory Turbulence

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Deep-Sea Mining and Capital Markets As demand surges for strategic minerals like nickel, cobalt, manganese, and rare earths, deep-sea mining firms are increasingly turning to public markets as a path to raise the substantial capital needed for exploration,… Read More

SEC Trading Suspensions of QMMM, SDM – New SEC Cross-Border Task Force

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On September 29, 2025, the U.S. Securities and Exchange Commission (SEC) issued back-to-back trading suspensions for two foreign issuers listed on the Nasdaq Capital Market, underscoring regulatory concerns about fraudulent, social-media-driven stock manipulation. These are the first SEC… Read More

Bollinger Innovations: The Curious Case of the Disappearing Investor

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Yesterday, Bollinger Innovations Inc. (BINI) (formerly Mullen Automotive, Inc. (MULN)) announced a 1:250 reverse stock split, effective Monday, September 22, 2025, in an effort to regain compliance with the Nasdaq’s minimum bid price rule.  Under this plan, every… Read More

What Does It Mean to Be an “Affiliate”?

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In securities law, determining whether someone is an affiliate can impact everything from the resale of shares to a company’s qualification for certain SEC filings. In other words, “affiliate” status isn’t just a label—it’s a regulatory ripple effect…. Read More

Rule 144 and 145: The SEC’s Favorite Party Poopers

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When it comes to the resale of securities, few areas of securities law generate as much scrutiny as those involving shell companies. Investors and issuers alike must navigate complex restrictions under the Securities Act, particularly the interplay of… Read More

Trump Says No More Nasty 10-Qs — Make SEC Reporting Great Again

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President Donald Trump has revived an idea he first floated during his earlier administration: doing away with quarterly reporting requirements for U.S. public companies. This move aligns with President Trump’s vision of reducing bureaucratic hurdles and fostering a… Read More

Direct Public Offerings in 2025

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A Direct Public Offering (DPO) is an effective method for going public.  Private companies may also raise capital by selling securities directly to the public without intermediaries like underwriters or investment banks. T

Nasdaq Proposes Tougher Listing Standards

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On September 3, 2025, Nasdaq unveiled proposed updates to its listing standards, designed to strengthen investor protections and enhance market integrity. The changes come amid heightened concerns about market manipulation and liquidity in smaller company securities, and reflect… Read More

Navigating Periodic Reporting for U.S. Public Companies

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As a public company in the U.S., staying on top of your SEC reporting obligations under the Securities Exchange Act of 1934 (Exchange Act) is crucial. These requirements ensure transparency, keep investors informed about key developments, and help… Read More

Hedge Funds Just Won a Key Review of the SEC’s Short-Sale Disclosure Rule. Here’s What It Means.

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A federal appeals court has ordered the Securities and Exchange Commission to take a fresh look at the economic impact of its short-sale transparency regime—a notable win for hedge fund groups that sued to block it. On August… Read More

Navigating Audit Committee Requirements

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For public companies in the U.S., the audit committee plays a critical role in maintaining investor confidence and ensuring accountability. Audit committees sit at the intersection of corporate governance, financial integrity, and risk oversight. If you serve on… Read More

Navigating Florida’s Revamped Securities Laws

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In 2023 and 2024, Florida lawmakers overhauled Chapter 517, the Florida Securities and Investor Protection Act, ushering in a new era for businesses and investors. Effective October 1, 2024, these changes make it easier for Florida companies to… Read More

NASDAQ’s 20% Rule – Consideration When Going Public

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When a company goes public on the Nasdaq Stock Market, it must comply with various requirements, including obtaining stockholder approval for certain transactions involving 20% or more of the company’s stock or voting power. This is particularly important… Read More

Understanding the SEC’s Concept Release on the Definition of a Foreign Private Issuer

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In a recent move, the U.S. Securities and Exchange Commission (SEC) issued a concept release examining the definition of a Foreign Private Issuer. This step underscores the SEC’s effort to evaluate whether the current framework still makes sense in today’s interconnected… Read More

Navigating Corporate Governance: Requirements for Nasdaq and NYSE Companies

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If you’re eyeing a listing on the New York Stock Exchange (NYSE) or Nasdaq Stock Market (Nasdaq), you’ll need to align your board and operations with robust corporate governance standards. These rules, enforced by the exchanges and the Securities and Exchange Commission (SEC), aim to promote accountability, fairness, and investor confidence.

Navigating SEC Disclosures: Director and Executive Officer Information

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Item 401 of Regulation S-K requires that companies make certain disclosures about their directors, executive officers, and nominees. This information helps shareholders evaluate leadership quality, governance practices, and potential risks when voting on board elections or assessing investment opportunities.

Navigating SEC Form 6-K

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For foreign private issuers (FPIs) listed in the United States, staying compliant with U.S. Securities and Exchange Commission (SEC) regulations is a critical task. Among the various reporting obligations, Form 6-K stands out as a key mechanism for… Read More