Subject: Important information regarding trading of U.S. Over-the-Counter (OTC) securities in your BMO InvestorLine Account

As a result of a regulatory change adopted by the Securities and Exchange Commission (SEC), effective September 28, 2021, the ability to trade U.S. OTC securities in your BMO InvestorLine Account may be impacted. This change requires that an issuer’s current information be publicly available in order for its security to be quoted and remain quoted in the US OTC market on an ongoing basis.

U.S. OTC securities are not traded on national securities exchanges such as NYSE, NASDAQ etc. U.S. OTC securities  impacted by the new rule are generally referred to as “Pink-No Information” or “Grey Market” on www.OTCMarkets.com *. BMO InvestorLine may be unable to process trades for U.S. OTC securities of companies that are not in compliance with the new requirements, which may be the case at any time after September 28, 2021.  

Holders may wish to assess any positions in U.S. OTC securities subject to potential restriction under the new requirements. Purchases and sales of some of these securities may be difficult to execute even prior to the regulatory change compliance date.  

You may learn more at https://www.otcmarkets.com/learn/15c2-11-resource-center.*

If you have any questions, you can reach us by e-mail at info@bmoinvestorline.com or at 1-888-776-6886 Monday to Friday from 8 a.m. to 5 p.m. EST.