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The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

How the New SEC Rule 15c2-11 Affects Investors

GRAYSCALE HORIZEN TR ZEN by Grayscale Horizen Trust (ZEN)

WIIM

ZoomInfo Technologies shares are trading lower following a Q2 revenue miss.

Earnings

Earnings Beats

CLOV

Clover Health Investments Q2 EPS $0.01 Beats $(0.05) Estimate, Sales $356.26M Beat $338.76M Estimate

BWX Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BWXT#NYSE">BWXT</a>) reported quarterly earnings of $0.82 per share which beat the analyst consensus estimate of $0.75 by 9.33 percent. The company reported quarterly sales of $681.465 million which beat the analyst consensus estimate of $639.313 million by 6.59 percent. This is a 11.27 percent increase over sales of $612.445 million the same period last year.

BWXT

BWX Technologies Q2 2024 Adj. EPS $0.82 Beats $0.75 Estimate, Sales $681.465M Beat $639.313M Estimate

Management

ZoomInfo Appoints Graham O'Brien As Interim CFO Effective September 6, 2024; Current CFO Cameron Hyzer To Transition To Advisory Role Until October 7, 2024; Search For Permanent Successor Underway

Avis Budget Group shares are trading lower following a Q2 revenue miss.

Kemper (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMPR#NYSE">KMPR</a>) reported quarterly earnings of $1.42 per share which beat the analyst consensus estimate of $1.23 by 15.45 percent. The company reported quarterly sales of $1.130 billion which beat the analyst consensus estimate of $977.852 million by 15.56 percent. This is a 10.53 percent decrease over sales of $1.263 billion the same period last year.

KMPR

Kemper Q2 2024 Adj. EPS $1.42 Beats $1.23 Estimate, Sales $1.130B Beat $977.852M Estimate

Guidance

LCID

Lucid Group Expects In 2024 To Manufacture Approx. 9K Vehicles

Plans for an upcoming presidential debate between Kamala Harris and Donald Trump have hit a roadblock ahead of the <a href="https://www.benzinga.com/topic/2024-election">2024 presidential election.</a>
Each candidate is currently ready to debate at rival events, with a media company proposing a solution to get both candidates together.
What Happened: The first <a href="https://www.benzinga.com/general/politics/24/06/39563409/heres-how-many-people-watched-the-2024-presidential-debate-and-how-fox-beat-cnn-at-its-own-game">2024 presidential debate</a> between Trump and President Joe Biden may have been one of the biggest turning points in the 2024 election, with Biden later dropping out of the race.
The debate was watched by 47.9 million people and set records for Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) unit CNN, while also bringing in less viewers than the first presidential debates of 2016 and 2020.
Biden and Trump originally agreed on a second debate set for Sept. 10 on ABC News, a unit of The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>). Fox Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOX#NASDAQ">FOX</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>) has also proposed <a href="https://www.benzinga.com/general/politics/24/07/39967679/trump-vs-harris-fox-news-proposes-another-2024-presidential-debate-how-media-company-could-be-bi">hosting a debate </a>on Sept. 17.
NewsNation, which is a unit of Nexstar Media Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXST#NASDAQ">NXST</a>), has proposed a debate for Trump and Harris with letters sent to the two presidential candidates' teams.
"I'd like to offer an alternative that would satisfy both candidates – not to mention the American people – a fair, respectful and even-handed debate on NewsNation, co-sponsored by The Hill," Nexstar executive Sean Compton said in the letter, as reported by <a href="https://variety.com/2024/tv/news/newsnation-harris-trump-presidential-debate-1236095178/">Variety</a>.
Nexstar also owns The Hill, a political news media outlet.
"We of course are flexible on the timing, format and location of the debate, although we certainly expect it would be held in a battleground state such as Pennsylvania."
NewsNation, launched in 2001, is smaller than other media outlets that have hosted presidential debates. The outlet has attempted to be non-partisan and an alternative to media outlets that are often partisan.
"Unlike some media outlets, they are not identified as favoring either Democrats or Republicans. That's why NewsNation and The Hill are the perfect platform for an intelligent conversation about the crucial issues facing America as we head into the election."
Harris has said she will be appearing at the <a href="https://www.benzinga.com/news/24/08/40150710/donald-trump-lobs-insults-at-kamala-harris-as-campaigns-spar-over-debates">previously agreed upon</a> Sept. 10 debate with ABC News. Trump is proposing a Fox News hosted debate on Sept. 4, calling the Sept. 10 debate cancelled since Biden dropped out and due to his ongoing litigation against the media network.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent080524">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: With Biden and Harris at a standstill over when, where and with which media platform a debate will be hosted, this could be a good opportunity for NewsNation to play the non-partisan card. &nbsp;
Trump has argued that an ABC-hosted debate would not be impartial due to his ongoing litigation with the media network. The former president is also pushing to make sure there is a live studio audience for a debate with Harris, something that was not part of his first debate with Biden.
Harris has pushed back <a href="https://www.benzinga.com/news/24/07/40055967/kamala-harris-hopes-trump-will-meet-her-on-the-debate-stage-if-youve-got-something-to-say-say-it-to">against Trump's claim</a> that he is willing to debate "any time, any place" in her recent comments about the presidential debates.
"Donald, I do hope you'll reconsider meeting me on the debate stage," Harris recently said. "If you've got something to say, say it to my face."
NewsNation hosted the fourth Republican debate during the 2024 election, which was skipped by Trump. The debate had around 4.1 million viewers for NewsNation.
Unlike past debates that were not exclusive to one media network, media companies are now fighting to land the rights to be the home of debates.
CNN was the lucky winner of the rights to the first debate, but also allowed simulcasting of the event, which benefitted Fox, who had strong viewership.
With the 2024 election nearly three months away, voters may be excited about the notion of Trump and Harris facing off head-to-head in a debate for the first time.
With or without the debate, Nexstar is <a href="https://www.benzinga.com/general/politics/24/03/37550422/trump-ready-to-debate-biden-anytime-anywhere-anyplace-how-media-companies-shareholders-could-be-">viewed as a potential winner </a>among media stocks with increased spending during the 2024 election as the owner of America's largest local broadcasting network with 200 owned or partner stations in 116 U.S. markets.
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent080524">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Photo: Shutterstock

Politics

Trading Ideas

FOXA

NXST

Trump Vs. Harris Presidential Debate Dilemma Solved? Media Outlet Pitches 'Alternative That Would Satisfy Both Candidates'

Hims &amp; Hers Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) reported quarterly earnings of $0.06 per share which beat the analyst consensus estimate of $0.03 by 100 percent. This is a 300 percent increase over losses of $(0.03) per share from the same period last year. The company reported quarterly sales of $315.648 million which beat the analyst consensus estimate of $299.942 million by 5.24 percent. This is a 51.82 percent increase over sales of $207.912 million the same period last year.

Hims & Hers Health, Inc. Class A Common Stock

HIMS

Hims & Hers Health Q2 2024 GAAP EPS $0.06 Beats $0.03 Estimate, Sales $315.648M Beat $299.942M Estimate

ZoomInfo Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZI#NASDAQ">ZI</a>) reported quarterly earnings of $0.17 per share which missed the analyst consensus estimate of $0.23 by 26.09 percent. The company reported quarterly sales of $291.50 million which missed the analyst consensus estimate of $307.73 million by 5.27 percent. This is a 5.54 percent decrease over sales of $308.60 million the same period last year.

Earnings Misses

ZoomInfo Technologies Q2 2024 Adj EPS $0.17 Misses $0.23 Estimate, Sales $291.50M Miss $307.73M Estimate

Lucid Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) reported quarterly losses of $(0.29) per share which missed the analyst consensus estimate of $(0.26) by 11.54 percent. The company reported quarterly sales of $200.600 million which beat the analyst consensus estimate of $192.059 million by 4.45 percent. This is a 32.96 percent increase over sales of $150.874 million the same period last year.

Lucid Gr Q2 2024 Adj. EPS $(0.29) Misses $(0.26) Estimate, Sales $200.600M Beat $192.059M Estimate

AECOM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACM#NYSE">ACM</a>) reported quarterly earnings of $1.16 per share which beat the analyst consensus estimate of $1.13 by 2.65 percent. This is a 23.4 percent increase over earnings of $0.94 per share from the same period last year. The company reported quarterly sales of $4.15 billion which beat the analyst consensus estimate of $3.98 billion by 4.35 percent. This is a 13.29 percent increase over sales of $3.66 billion the same period last year.

AECOM Q3 Adj $1.16 Beats $1.13 Estimate, Sales $4.15B Beat $3.98B Estimate

CRISPR Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRSP#NASDAQ">CRSP</a>) reported quarterly losses of $(1.49) per share which beat the analyst consensus estimate of $(1.52) by 1.97 percent. The company reported quarterly sales of $517.00 thousand which missed the analyst consensus estimate of $3.54 million by 85.39 percent. This is a 99.26 percent decrease over sales of $70.00 million the same period last year.

CRSP

CRISPR Therapeutics Q2 2024 Adj EPS $(1.49) Beats $(1.52) Estimate, Sales $517.00K May Not Compare To $3.54M Estimate

Teradata (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDC#NYSE">TDC</a>) reported quarterly earnings of $0.64 per share which beat the analyst consensus estimate of $0.48 by 33.33 percent. The company reported quarterly sales of $436.000 million which missed the analyst consensus estimate of $447.036 million by 2.47 percent. This is a 5.63 percent decrease over sales of $462.000 million the same period last year.

Teradata Q2 2024 Adj. EPS $0.64 Beats $0.48 Estimate, Sales $436.000M Miss $447.036M Estimate

Financing

Lucid Group Announces $1.5B Public Investment Fund Commitment

Addus HomeCare (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADUS#NASDAQ">ADUS</a>) reported quarterly earnings of $1.35 per share which beat the analyst consensus estimate of $1.21 by 11.57 percent. This is a 26.17 percent increase over earnings of $1.07 per share from the same period last year. The company reported quarterly sales of $286.922 million which beat the analyst consensus estimate of $285.007 million by 0.67 percent. This is a 10.36 percent increase over sales of $259.980 million the same period last year.

ADUS

Addus HomeCare Q2 2024 Adj. EPS $1.35 Beats $1.21 Estimate, Sales $286.922M Beat $285.007M Estimate

AMERISAFE, Inc.&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amsf#NASDAQ">AMSF</a>) shares have lost 5.3% since it reported second-quarter 2024 results on Jul 29. Investors may have been worried about weakness in underwriting results inducing a deterioration in the net combined ratio. An elevated operating expense level, resulting from an increase in loss and loss adjustment expenses incurred, underwriting and other operating costs and policyholder dividends, also contributed to the downside. Improved audit premiums partially offset the negatives.
AMSF reported second-quarter adjusted earnings per share of 58 cents, which missed the Zacks Consensus Estimate by 4.9%. Moreover, the bottom line dipped 20.5% year over year.
Operating revenues improved 3.4% year over year to $76 million. The top line beat the consensus mark by 2.4%.
<div class="chart_embed">
<h3>AMERISAFE, Inc. Price, Consensus and EPS Surprise</h3>
<img alt="AMERISAFE, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/32/1722871229.png" style="height:265px; width:620px" title="" />
AMERISAFE, Inc. price-consensus-eps-surprise-chart | AMERISAFE, Inc. Quote
</div>
<h3>Q2 Performance</h3>
Net premiums earned of $68.6 million improved 4.6% year over year in the quarter under review and outpaced the Zacks Consensus Estimate of $66 million. The metric benefited from improved contributions from payroll audits and related premium adjustments as a result of persistent payroll strength.
Net investment income dipped 3.6% year over year to $7.4 million due to a reduced portfolio size. However, this was partially offset by improved reinvestment rates. The metric fell short of the consensus mark of $7.8 million. Fee and other losses were $75 million.
AMERISAFE reported a pre-tax underwriting profit of $6.5 million, which declined 31.2% year over year.
Total expenses escalated 10.7% year over year to $62.1 million in the second quarter.
Operating net income of $11.1 million decreased 20.2% year over year.
The net combined ratio deteriorated 510 basis points (bps) year over year to 90.5% and came higher than the consensus mark of 90%. The metric suffered due to a deteriorating net loss ratio.
<h3>Financial Update (as of Jun 30, 2024)</h3>
AMERISAFE exited the second quarter with cash and cash equivalents of $30.6 million, which declined 20.9% from the 2023-end level.
Total assets of $1.2 billion increased 0.4% from the figure in 2023-end.
Shareholders&#39; equity of $301 million grew 2.9% from the 2023-end level.
Book value per share was $15.78 as of Jun 30, 2024, which improved 3.3% from the 2023-end figure.
Return on average equity deteriorated 400 bps year over year to 14.6% in the quarter under review.
<h3>Dividend Update</h3>
Management announced a quarterly cash dividend of 37 cents per share, which will be paid out on Sep 20, 2024, to its shareholders of record as of Sep 6.
<h3>Zacks Rank</h3>
AMERISAFE currently carries a Zacks Rank #4 (Sell).
<h3>Performances of Other Insurers</h3>
Of the insurance industry players that have reported second-quarter 2024 results so far, the bottom-line results of&nbsp;Marsh &amp; McLennan Companies, Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mmc#NYSE">MMC</a>),&nbsp;Brown &amp; Brown, Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bro#NYSE">BRO</a>) and&nbsp;Kinsale Capital Group, Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/knsl#NYSE">KNSL</a>) beat the Zacks Consensus Estimate.
Marsh &amp; McLennan reported second-quarter 2024 adjusted earnings per share of $2.41, which beat the Zacks Consensus Estimate by 0.8%. The bottom line advanced 10% year over year.&nbsp; Consolidated revenues rose 6% year over year to $6.2 billion. The figure also improved 6% on an underlying basis.&nbsp; The top line, however, fell short of the consensus mark by 1%. MMC&#39;s adjusted operating income was $1.72 billion, which grew 11% year over year. Adjusted operating margin improved 130 bps year over year to 29%.
The Risk and Insurance Services segment&#39;s revenues were $4.02 billion, which advanced 8% year over year and 7% on an underlying basis. Adjusted operating income advanced 12% year over year to $1.34 billion. Revenues of Marsh, a unit within the segment, improved 8% year over year and 7% on an underlying basis to $3.27 billion. In the United States/Canada, underlying revenues grew 6% year over year. International operations also witnessed underlying revenue growth of 7%. &nbsp;
Brown &amp; Brown&#39;s second-quarter adjusted earnings of 93 cents per share beat the Zacks Consensus Estimate by 6.8%. The bottom line increased 17.7% year over year. Total revenues of $1.2 billion beat the consensus estimate by 3.3%. The top line improved 12.5% year over year. The upside can be primarily attributed to commission and fees, which grew 11.4% year over year to $1.1 billion.&nbsp;
Organic revenues improved 10% to $1 billion. Investment income more than doubled year over year to $22 million. Adjusted EBITDAC was $420 million, up 17.3% year over year. EBITDAC margin expanded 150 bps year over year to 35.7%.&nbsp;
Kinsale Capital delivered second-quarter net operating earnings of $3.75 per share, which outpaced the Zacks Consensus Estimate by 6.5%. The bottom line increased 30.4% year over year.&nbsp; Operating revenues jumped 45.1% year over year to $378 million. Revenues beat the consensus estimate of $377 million. Gross written premiums of $529.8 million rose 20.9% year over year. Net written premiums climbed 17.9% year over year to $430.2 million.&nbsp;
Net investment income increased 48.3% year over year to $35.8 million. Kinsale Capital&#39;s underwriting income was $76.1 million, which grew 23.6% year over year. The combined ratio deteriorated 100 bps to 77.7% in the quarter under review. The expense ratio deteriorated 10 bps to 21.1, while the loss ratio deteriorated 60 bps to 56.6.
<a href="https://www.zacks.com/stock/news/2316354/amerisafe-amsf-stock-down-5-3-since-q2-earnings-miss?cid=CS-BENZ-FT-analyst_blog|earnings_article-2316354">To read this article on Zacks.com click here.</a>

Markets

Analyst Ratings

AMSF

KNSL

AMERISAFE Stock Down 5.3% Since Q2 Earnings Miss

Arcturus Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCT#NASDAQ">ARCT</a>) reported quarterly losses of $(0.64) per share which beat the analyst consensus estimate of $(1.62) by 60.49 percent. The company reported quarterly sales of $49.859 million which beat the analyst consensus estimate of $21.696 million by 129.81 percent. This is a 373.99 percent increase over sales of $10.519 million the same period last year.

ARCT

Arcturus Therapeutics Q2 2024 GAAP EPS $(0.64) Beats $(1.62) Estimate, Sales $49.859M Beat $21.696M Estimate

Veteran Wall Street investor Ed Yardeni challenged fears of a U.S. recession on Monday, opposing the prevailing market sentiment that <a href="https://www.benzinga.com/topic/equities">unsettled global equities</a>.
&#8220;A weak July employment report does not make a recession,&#8221; wrote Ed Yardeni, president of Yardeni Research, in a morning note published ahead of the stronger-than-expected <a href="https://www.benzinga.com/news/econ-s/24/08/40161832/us-services-activity-returns-to-growth-in-july-global-market-selloff-stalls-are-recession-fears-over">ISM Services PMI report. </a>
Yardeni argues that while the increases of 114,000 and 97,000 in July's total and private-industry payrolls were weaker than expected, they still represented growth.
&#8220;There's no reason to think they will be followed up by decreases. In fact, we expect to see bigger increases in the August employment report early next month,&#8221; he explained.
Yardeni reiterated his confidence in the economy, stating, &#8220;We don't expect a hard landing of the economy.&#8221; He further emphasized that the latest productivity data aligns with his &#8220;Roaring 2020s&#8221; outlook. 
Last week, Yardeni raised his year-end S&amp;P 500 target to 5,800 points, now implying a 12% surge from current levels. He predicts that the S&amp;P 500 index, as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), is set to reach 8,400 points by the end of the decade.
See Also: <a href="https://www.benzinga.com/general/education/24/08/40169767/a-bear-market-is-not-a-recession-how-to-understand-whats-going-on-in-the-markets-right-now">A Bear Market Is Not A Recession — How To Understand What&#8217;s Going On In The Markets Right Now</a>
<h3 class="wp-block-heading">Yardeni Expects Employment Snap Back In August</h3>
Yardeni argued that the stock market&#8217;s adverse reaction to Friday's jobs report was exaggerated. It seemed to price in a hard landing and anticipated federal funds rate cuts by the Federal Reserve, including a potential 50-basis-point cut in September.
He also suggested that the market selloff was exacerbated by speculators scrambling to cover their carry trades in the &#8220;Magnificent 7&#8221; stocks — Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) — and other financial assets globally.
Now Read: <a href="https://www.benzinga.com/news/large-cap/24/08/40166207/how-to-navigate-market-volatility-5-etfs-that-strengthen-your-portfolio-during-stock-turmoil">How To Navigate Market Volatility: 5 ETFs That Strengthen Your Portfolio During Stock Turmoil</a>
&#8220;We believe that report was a weather-impacted anomaly and not representative of the strength of the U.S. labor market,&#8221; they asserted.
While the Bureau of Labor Statistics (BLS) noted that Hurricane Beryl had no impact on the July employment report, Yardeni stated that the rise in the unemployment rate from 4.1% in June to 4.3% in July was influenced by inclement weather, including Beryl's impact on Texas.
Last week, Federal Reserve Chairman Jerome Powell noted, "Strong job creation over the past couple of years has been accompanied by an increase in the supply of workers, reflecting increases in participation among individuals aged 25 to 54 years and a strong pace of immigration."
As workers affected by July's inclement weather return to their jobs in August, Yardeni expects to see lower national unemployment claims and higher national payroll employment. 
&#8220;Fed officials have plenty of time between now and their speeches at the Jackson Hole symposium in a few weeks to digest the report and see what we're seeing,&#8221; he stated. 
Now Read:
<ul>
<li><a href="https://www.benzinga.com/government/24/08/40168075/markets-are-ripe-for-negativity-but-financial-expert-urges-investors-to-pick-up-some-deals">Markets Are &#8216;Ripe For Negativity,&#8217; But Financial Expert Urges Investors To &#8216;Pick Up Some Deals&#8217;</a></li>
</ul>

Analyst Color

Equities

Bonds

Treasuries

Federal Reserve

Tech

AAPL

AMZN

GOOGL

NVDA

Veteran Wall Street Analyst Counters Recession Fears: 'We Don't Expect A Hard Landing Of The Economy'

Viper Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNOM#NASDAQ">VNOM</a>) reported quarterly earnings of $0.61 per share which beat the analyst consensus estimate of $0.56 by 8.93 percent. The company reported quarterly sales of $216.708 million which beat the analyst consensus estimate of $216.238 million by 0.22 percent. This is a 34.78 percent increase over sales of $160.787 million the same period last year.

VNOM

Viper Energy Q2 2024 Adj. EPS $0.61 Beats $0.56 Estimate, Sales $216.708M Beat $216.238M Estimate

Image courtesy of <a href="https://www.pexels.com/photo/airport-bank-board-business-534216/">Pexels</a>

The following post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga.

Benzinga held an <a href="https://www.dropbox.com/s/163chm0fmb8pnsd/OTC%20Markets%20-%20Interview%20Production.mp4?dl=0">exclusive conversation</a> with Cass Sanford, Associate General Counsel for OTC Markets Group (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/OTCM#OTCQX">OTCM</a>), an operator of financial markets for 11,000 U.S. and global securities. The interview focused on an amendment to an existing U.S. Securities and Exchange Commission (SEC) rule 15c2-11.

<iframe frameborder="0" height="315" src="https://www.youtube.com/embed/tygy2iGdL9A" width="560"></iframe>

The practical takeaway of these amendments for over-the-counter (OTC)-trading brokers &mdash; entities such as&nbsp;Interactive Brokers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NYSE">IBKR</a>) &mdash;&nbsp; is that current information about OTC-traded companies must be publicly posted or otherwise made publicly available in order for the company&rsquo;s securities to be quoted by broker-dealers.&nbsp;

For a complete and thorough explanation of Rule 15c2-11 by the SEC, please visit <a href="https://www.sec.gov/news/press-release/2020-212">here</a>. As always, it is best to check with your broker-dealer as to whether your investments may be impacted.&nbsp;

Given the timing and enhancements of the current rule, its practical application helps streamline how small-cap companies go public. OTC Markets Group can now conduct &ldquo;Initial Reviews&rdquo; under Rule 15c2-11 for companies joining the OTCQX and OTCQB markets, providing an alternative to the traditional FINRA Form 211 process. Last month, <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=3325004-1&amp;h=15045507&amp;u=https%3A%2F%2Fwww.otcmarkets.com%2Fstock%2FGXLM%2Foverview&amp;a=Grayscale+Stellar+Lumens+Trust">Grayscale Stellar Lumens Trust</a> (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/GXLM#OTCQX">GXLM</a>), <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=3325004-1&amp;h=198235076&amp;u=https%3A%2F%2Fwww.otcmarkets.com%2Fstock%2FHZEN%2Foverview&amp;a=Grayscale+Horizen+Trust">Grayscale Horizen Trust</a> (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/HZEN#OTCQX">HZEN</a>), and <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=3325004-1&amp;h=3352726141&amp;u=https%3A%2F%2Fwww.otcmarkets.com%2Fstock%2FZCSH%2Foverview&amp;a=Grayscale+Zcash+Trust">Grayscale Zcash Trust</a> (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/ZCSH#OTCQX">ZCSH</a>), qualified to trade on the OTCQX&reg; Best Market under OTC Markets Group&rsquo;s &ldquo;Initial Review&rdquo; process.&nbsp; To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

The preceding post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

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GRAYSCALE HORIZEN TR ZEN by Grayscale Horizen Trust (ZEN)

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Tuesday, November 02, 2021