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. Delaney Equity Group LLC Delaney and others (reverse merger schemes, 2018) | SEC | 2018-08-29 | Reverse Merger Schemes , Shell Factories +1 | $20k | settled |
| SEC v. Imran Husain, et al. (shell factories, 2017) | SEC | 2017-05-24 | Shell Factories , Undisclosed Control Blocks | — | filed |
| SEC v. Edward F. Panos, et al. (shell factories, 2016) | SEC | 2016-12-20 | Shell Factories , Undisclosed Control Blocks | — | judgment |
| SEC v. Imran Husain, et al. (paid stock promotion, 2016) | SEC | 2016-05-12 | Paid Stock Promotion , Shell Factories | — | unknown |