Monday, April 28, 2014 12:20:48 PM
OTC Markets Group, Inc. (OTCQX: OTCM), headquartered in New York City, operates a financial marketplaces platform providing price and liquidity information for almost 10,000[3] over-the-counter (OTC) securities. OTC-traded securities are organized into three marketplaces to inform investors of opportunities and risks: OTCQX, OTCQB and OTC Pink.
and up listings on the OTC are just a paid for Tier Change ....
To be quoted on the platform, companies are not required to file with the SEC, although many choose to do so.[6] A wide range of companies are quoted on OTC Markets, including firmly established foreign firms, mostly through American Depositary Receipts (ADRs).[7] In addition, many closely held, extremely small and thinly traded US companies have their primary trading on the OTC Markets platform
Market tiers[edit]
OTC Markets Group established a categorization system to indicate the level of financial and corporate disclosure provided by the companies using its quotation system. Apart from the OTCQX tier, the disclosure categories do not signify issuer quality or merit of any security. Categorization is based on the level and timeliness of a company's disclosure and OTCQB and any of the OTC Pink categories can include both high quality as well as speculative, distressed, or questionable companies. Investors are encouraged to use caution when considering many of these companies for investment
The SEC and FINRA are regulators. OTCMarkets is a quotation service
http://en.wikipedia.org/wiki/OTC_Markets_Group
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