The SEC and FINRA have nothing to do with it. The rule was made and is enforced solely by OTC Markets Group, Inc.
In reality, the OTC stocks are not "listed". A "listed" security is defined as, A financial instrument that is traded through an exchange, such as the NYSE or Nasdaq. If a stock fails to comply with the exchange's listing requirements, it will be delisted. Delisted securities that can no longer be traded on an exchange will sometimes be traded over the counter. The over-the-counter market does not have listing requirements as the OTC is NOT an exchange.
"OTC" stands for over-the-counter. Prior to the advent of electronic trading, they were known as the "pink sheets". The OTCQX and OTCQB are just "tiers" set up by OTC Markets, Inc. to differentiate "levels of confidence" and collect more fees accordingly. An OTCQX security must have a bid price of at least $0.10. An OTCQB security must have a bid price of at least $0.01.
OTC Markets is a public company traded on OTCQX under the symbol OTCM.
Good DD IS NOT just reciting the PRs and company handouts and looking for the good. Those things are never hard to find.
Good DD IS finding out what the company and CEO do NOT want you to know.
