Replies to post #87660 on DD Support Board and Research Team

[1manband]

No, you are incorrect. OTCMarkets is not a regulator and has absolutely no authority over OTC quotations. FINRA does, and FINRA is the legal regulator. OTCMarkets simply provides a trading platform for OTCMarkets trading which allows them to sell the quotes for trades made on their platform, which is not exclusive. FINRA actually "owns" the OTC market, not OTCMarkets.

NO OTC company is required to subscribe to OTCMarkets services to be quoted on the OTC Market. They do nothing but charge companies for PR services. All their "tiers" and trading status (such as "Pink Current") is invented to sell PR services. Neither the SEC nor FINRA recognizes such designations in any way, because they are completely meaningless from a regulatory standpoint.

[janice shell]

If a company is not a reporting SEC company, they must subscribe to and meet OTCmarkets disclosure requirements to be quoted.

No, they don't actually have to do that. All they need is a Form 211. If they don't make the disclosures OTCMarkets would like, they'll be put on the Pink No Info tier, but they'll nonetheless trade, and still be quoted.

[integral]

OTC Markets regulate zero. They own the platform for B/Ds to publish quotes and execute trades. FINRA, an SRO, regulates the trading and the B/Ds.