The OTC Tier System
All OTC securities are assigned a market tier based on their reporting method (SEC Reporting, Alternative Reporting Standard) and disclosure category – Current, Limited or No Information. Securities on OTCQX, the highest tier of the OTC market, are required to have Current disclosure and meet minimum financial qualifications. Securities in OTCQB tier must be SEC, Bank or Insurance reporting and must be Current in their disclosure.
Yes, if they want to lose their standing as OTCQB they can do whatever they want, you are correct if that means "unregulated."
But a NASDAQ stock could stop filing and the same fate would bestow them. I suppose you do have to make the assumption that the company wants to continue to be SEC complaint.
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