Replies to post #87662 on DD Support Board and Research Team

[janice shell]

Nope, OTCMarkets has no authority to stop the quotation of anything. The most they can do is give it a stop sign.

[sidedraft]

If every computer at OTCMarkets goes down, will every bit of information on my Level II service screen still be there, YES.

[1manband]

Nope, OTCMarkets has absolutely no authority over anything. FINRA owns and runs the OTC Market. OTCMarkets is a paid PR company who charges companies to post information (often intentionally misleading or fraudulent information) on their website. No OTC company need pay OTCMarkets a penny to be quoted OTC. Those "tiers" and "markets" that OTCMarkets have are just made up for show. They have no regulatory meaning whatsoever. OTCMarkets would like people to think they do so they will pay them for their PR services, but they are completely meaningless. Neither FINRA nor the SEC recognize them in any way. The only things that matter from a regulatory standpoint are is a company SEC registered and reporting or not, and has a Market Maker filed a 15c2-11 with FINRA. Everything they pay OTC Markets for is absolutely meaningless, and often a waste of money as it is just for show.

And OTCMarkets also does nothing to review or confirm any of the information companies post on their website. Their "rules" about the financials required to be GAAP compliant is meaningless, as no one enforces their "rule". Even the most obviously fraudulent financial statements are posted to their website with impunity.