These requirements are aligned with SEC Rule 15c2-11 and are designed to give an investor the basic information a broker-dealer must maintain in order to initiate a quote in an OTC equity security. OTC Pink companies may publish disclosure in accordance with the OTC Pink Basic Disclosure Guidelines. OTCQX company disclosure helps an investor of ordinary intelligence and investment skills to understand the issuer’s business and prospects. OTCQX companies must provide current and potential investors with all “material” information, which is the information necessary for an investor to make a sound investment decision. Disclosure Guidelines. These issuers are subject to the eligibility requirements as well as terms of the OTCQX Rules for U.S. companies not registered and reporting with the SEC can follow the Alternative Reporting Standard by submitting information pursuant to the OTCQX U.S. OTC Markets offers the Alternative Reporting Standard for companies who provide material information publicly to investors. When registration with the SEC is not required, publicly traded companies must still make information publicly available pursuant to Rule 10b-5 under the Securities Exchange Act of 1934 and pursuant to Rule 144(c)(2) under the Securities Act of 1933. OTCMarkets Alternative Reporting Standard They may be listed on the OTCQX tier or the OTC Pink Current tier. exchange to make information publicly available to investors in the U.S. Rule 12g3-2(b) under the Securities Exchange Act of 1934 permits foreign issuers with securities listed on a non-U.S. OTCMarkets International Information Standard Issuers following the OTC Markets Reporting Standard may be on the OTC Markets OTCQX tier or the OTCQB tier. Issuers in the OTC Markets Reporting Standard have either registered a class of their securities with SEC and are in compliance with SEC reporting requirements or are current in their periodic reporting requirements to a U.S. OTC Markets OTCQB & OTCQX Reporting Standard These tiers are the OTCQX, OTCQB and OTC Pink Sheets. The reporting tiers are based upon the level of disclosure the issuer provides to the public. There are three reporting tiers for companies quoted by OTC Markets. Securities listed on stock exchanges such as NASDAQ or the NYSE, securities may trade through the OTC Markets interdealer quotation system whether they are Securities and Exchange Commission (“ SEC”) reporting issuer or not.
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