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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (65539)	9/29/2000 1:34:40 PM
From: Jim Bishop	Read Replies (3) \| Respond to of 150070

otcbb.com 3 Quote Rule Amendments Approved by SEC On September 21, 2000, the SEC approved the proposed rule change by the NASD to amend the Three Quote Rule for transactions in non-Nasdaq securities. The following three amendments were approved: Rule 2320(g) was amended to relieve members of the current obligation to obtain 3 quotes in a non-Nasdaq security when there are 2 or more priced quotations for that security displayed in an inter-dealer quotation system (such as the OTCBB or Pink Sheets) that permits quotation updates on a real-time basis. Rule 3110(b)(2) was amended to eliminate the current requirement for members to indicate on the order ticket the name of each dealer contacted and the quotation received when two or more priced quotations for that security are displayed in an interdealer-quotation system if that system permits quotation updates on a reaql-time basis and NASD Regulation has access to the quotation data.* Rule 2320(g) was also amended to require members that display quotations for a given non-Nasdaq security in two or more real-time quotation mediums, to provide the same priced quotation in each medium. These amendments to the 3 Quote Rule will become effective 30 days after publication in the NASD Notice-to-Members, on approximately November 15, 2000. Federal Register Approval Order *At present, NASD Regulation has such data with respect to the OTCBB but does not have access to historical quotation data with respect to the Pink Sheets. NASD Regulation recently submitted to the Commission a proposed rule change (SR NASD-00-42) that would require NASD members that publish quotations in the Pink Sheets, or any similar automated quotation system) to record and maintain priced quotations and unpriced indications of interest data and to report such quotation data to NASD upon request.