Securities Lawyer 101 l Brenda Hamilton

Securities Lawyer 101 l Brenda Hamilton

Monday, July 22, 2013

OTCMarkets Issuer Reporting Standards

Unlike securities listed on stock exchanges such as NASDAQ or the NYSE, securities may trade through the OTCMarkets interdealer quotation system whether they are Securities and Exchange Commission (“SEC”) reporting issuer or not. The Three OTCMarkets Reporting Tiers There are three reporting standards for companies quoted by OTCMarkets which vary depending upon the level of disclosure provided to investors. OTCMarkets OTCQB & OTCQX Reporting Standard Issuers in the OTCMarkets Reporting Standard have either registered a class of their securities with SEC and are in compliance with SEC reporting requirements or are current in their periodic reporting requirements to a U.S. banking or insurance regulator. Issuers following the OTCMarkets Reporting Standard may be on the OTCMarkets OTCQX tier or the OTCQB tier. OTCMarkets International Information Standard Rule 12g3-2(b) under the Securities Exchange Act of 1934 permits foreign issuers with securities listed on a non-U

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