On February 13, 2014, the OTC Markets proposed amendments to its OTCQX rules. The will impact US and international companies seeking listings on the OTCQX. The OTC Markets OTCQX is the premier market tier of the OTC Markets.
These proposals include changes to the rules governing OTCQX market professionals, initial eligibility standards and issuer requirements.TheOTC Markets will be accepting comments on the proposed amendments until March 16, 2014. The new rule concerning issuer disclosures of material information will become effective on May 17, 2014.The remaining proposals become effective on March 17, 2014.
The full text of the proposed amendments to the OTCQX Rules for US companies, can be found here.
The full text of the proposed amendments to the OTCQX Rules for international companies, can be foundhere.
The OTC Markets also announced new OTCQX Rules for US banks in connection with a new OTCQX banks marketplace that the OTC Markets plans to launch. The rules establish the application, eligibility, disclosure and continued qualification requirements for US banks admitted to the OTCQX. The OTC Market plans to launch the OTC banks market place in May of 2014.
To read the full text of the OTCQX Rules for US banks, click here.
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