Canada's Income Tax Act and regulations determine whether or not a security is a "qualified investment." Generally, a security meets the requirements of a qualified investment if it trades on at least one stock exchange that's considered a Designated Stock Exchange as determined by the Department of Finance Canada.
You can find a complete list of designated exchanges — which include well-known North American exchanges such as the NASDAQ, NYSE and TSX — by visiting www.canada.ca and searching "designated stock exchanges."
Many Canadian investors find themselves owning a non-qualified investment when buying investments that trade on over-the-counter (OTC) markets (as opposed to stock exchanges), or when a security is delisted from a designated exchange and begins OTC trading. The OTC market is a decentralized, loosely transparent and lightly regulated market where dealers act as market makers, supplying bid and ask prices for securities and currencies.
In general, a security that trades only on OTC markets is a non-qualified investment, but if it also trades on a designated exchange it may be considered qualified. For example, if a stock trades OTC in the U.S. but also trades on a designated exchange in Europe, it may qualify to be held in a registered plan.
2. Stuttgart on which NWBO trades under symbol NBYB is a designated stock exchange . See link.
3. I have no problem buying NWBO for my TFSA through TD Waterhouse which I did recently. Hope this helps. Questrade doesn't allow it so a friend moved it out.
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