en.wikipedia.org/wiki/Pump_and_dump
2 corrections found
the OTC Bulletin Board
This is outdated as a current U.S. market example. FINRA closed the OTC Bulletin Board on November 8, 2021.
Full reasoning
The article presents the OTC Bulletin Board as a current example of where U.S. penny stocks are traded. That is no longer accurate. FINRA announced that it would cease operation of the OTC Bulletin Board (OTCBB) on November 8, 2021 and delete the OTCBB-related rules from its rulebook. So the OTCBB is a retired quotation system, not a current market venue.
That means using it in present tense as a current example of where these stocks trade is outdated and misleading to readers.
1 source
- Regulatory Notice 21-38 | FINRA.org
FINRA Announces Closure of the OTC Bulletin Board... On November 8, 2021, FINRA will cease operation of the OTC Bulletin Board (OTCBB)... When the OTCBB ceases operation on November 8, 2021, FINRA will discontinue the Bulletin Board Dissemination Service.
AIM or OFEX
This is outdated. OFEX stopped being the market's name in 2006, when it became PLUS Markets.
Full reasoning
The article refers to OFEX as though it were a current UK market venue alongside AIM. That is outdated.
UK Companies House records for the exchange operator show that OFEX PLC was the company name only until 23 October 2006, after which it became PLUS MARKETS PLC, later PLUS STOCK EXCHANGE PLC, and later Aquis Stock Exchange. The Takeover Panel likewise records a 2007 instrument implementing the change of name of "OFEX".
So presenting "AIM or OFEX" in present tense as the current pair of venues is incorrect; OFEX had already been renamed years ago.
2 sources
- AQUIS STOCK EXCHANGE LIMITED overview - Find and update company information - GOV.UK
Previous company names... PLUS MARKETS PLC 23 Oct 2006 - 07 Feb 2011 ... OFEX PLC 09 Nov 2001 - 23 Oct 2006.
- Instruments - The Takeover Panel
Resolution ... Amendments made as a consequence of ... the change of name of "OFEX" ... Made 6 March 2007, Implementation 6 April 2007.