Quotation medium
A quotation medium publishes dealer quotations for securities that are not exchange-listed. Rule 15c2-11 governs who may publish a quote and what information must exist first — a rule that has been tightened specifically to squeeze out shells.
Where does quotation medium come up?
This term is used in the following manipulation techniques, each explained in full on its own page.
Enforcement actions involving these techniques
| Action | Agency | Filed | Technique | Penalty | Status |
|---|---|---|---|---|---|
| SEC v. Imran Husain, et al. (shell factories, 2019) | SEC | 2019-08-06 | Shell Factories | — | judgment |
| SEC v. Tiber Creek Corp. and James M. Cassidy (shell factories, 2019) | SEC | 2019-03-26 | Shell Factories | $75k | judgment |
| SEC v. Delaney Equity Group LLC, David C. Delaney and Ian C. Kass (reverse merger schemes, 2018) | SEC | 2018-08-29 | Reverse Merger Schemes , Shell Factories +1 | — | settled |
| SEC v. Diane J. Harrison, Michael J. Daniels and Catherine A. Bradaick-Zolla (shell factories, 2018) | SEC | 2018-04-30 | Shell Factories , Undisclosed Control Blocks | — | judgment |
| SEC v. Imran Husain, et al. (shell factories, 2017) | SEC | 2017-05-24 | Shell Factories , Undisclosed Control Blocks | — | filed |