The new poster there 1manband (another Janice Shel
Post# of 15187
On May 16, 2013 the Securities and Exchange Commission (the “SEC”) updated its Established Public Market policy concerning the OTCMarkets OTCQX and OTCQB in its Compliance and Disclosure Interpretations in question 139.13.
The SEC confirmed that the OTCMarkets OTCQX and OTCQB are now considered “established public markets” for the purpose of determining the public market price when registering securities for resale with the SEC in equity line financings.
The SEC’s decision comes after a decade of changes and improvements in technology, transparency and regulation in the OTCMarkets OTCQX and OTCQB marketplaces. The SEC’s changes mark an important development for SEC reporting issuers trading on the OTCMarkets. Until now, these issuers have not been able to rely upon the stability, depth and breadth of broker-dealers quoting and trading on the OTCQX and OTCQB marketplaces to establish a public market price when raising capital.
The SEC’s decision does not come as a surprise, considering that last month the OTCMarkets OTCQB and OTCQX had dollar and trading volume of more than $11,435,474,866, and 2,293,347,061, respectively.