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Changes to the OTCQX and OTCQB Marketplaces -

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crookedneck   Wednesday, 04/02/14 03:27:44 PM
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Changes to the OTCQX and OTCQB Marketplaces - Cheers!

This year, we are making significant changes to our OTCQX and OTCQB marketplaces to provide companies and investors with better information and a better trading experience. Please see a summary of the changes below.

New OTCQX Rules for U.S. Reporting Companies:

• The third-party sponsorship (DAD) process for U.S. companies was streamlined, making it less burdensome for U.S. companies to join OTCQX
• U.S. companies are now required to immediately post material news to the public
• Companies are no longer required to be DTC eligible to qualify for OTCQX


Introduction of OTCQX Banks:

• Launching this spring, OTCQX Banks is the first public marketplace in the U.S. uniquely designed for community and regional banks
• Provides a public marketplace for established, well-managed banks to build greater visibility and to receive capital market support
• Banks can leverage their existing regulatory reporting to qualify
• Banks appoint a Corporate Broker, a bank specialist who provides guidance about how to more effectively reach and inform investors, and expand a stock’s liquidity


Changes to OTCQB to Make it a Better Venture Stage Marketplace:

• Companies will be required to meet new eligibility standards, including a minimum bid price of $.01, and will be required to undergo an annual verification and management certification process
• OTCQB will include Real-Time Level 2 quotes and the OTC Disclosure & News Service to help companies improve the information experience for their investors
• The first group of current OTCQB companies subject to the new requirements include those with a Fiscal Year End of March 31, 2014 and will be required to comply with the new OTCQB standards by July 31, 2014
• Venture stage international companies will be able to join OTCQB for the first time

Read more here:
http://www.otcmarkets.com/content/doc/otcqb-fact-sheet.pdf

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