Skip to paragraph 12 for the BIG difference between "listing" requirements and continuously "eligible" requirements, but again, words are being minced, as water now flows under the bridge...
Eligibility Requirements
What are the "listing" requirements for the OTCBB? Because the OTCBB is a quotation service for FINRA Market Makers and is, not an issuer listing service or securities market, there are no listing requirements that must be met by an OTCBB issuer. Accordingly, there are no financial requirements and there is no minimum bid price requirement. There are, however, eligibility requirements as well as other regulatory requirements relating to quotation activity and the display of quotations in OTCBB equity securities.
12. What are the eligibility requirements for the OTCBB? In order for a security to be eligible for quotation by a market maker on the OTCBB, the security must be registered with the Securities and Exchange Commission (SEC) or other federal regulatory authority that has proper jurisdiction (see below) and the issuer must be current in its required filings with such federal authority.
Domestic issues quoted on the OTCBB are limited to the following securities:
securities of issuers that make current filings pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ("Act"); securities of depository institutions that are not required to make filings under the Act, but file publicly available reports with their appropriate regulatory authorities; securities of registered closed-end investment companies; and securities of insurance companies that are exempt from registration under Section 12(g)(2)(G) of the Act.
Foreign issues and ADRs must be registered with the Securities & Exchange Commission (SEC) pursuant to Section 12 of the Securities Exchange Act of 1934.
See Filing Information for more information on filing requirements and how FINRA processes OTCBB issuers' filings.
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