Reporting Standards

In contrast to securities listed on U.S. stock exchanges, securities on the OTCQX, OTCQB and Pink markets may make public disclosure available through a variety of reporting standards:

• International Reporting Standard: The company is an International Company listed on a non-U.S. stock exchange and is compliant with the disclosure requirements of Exchange Act Rule 12g3-2(b), which requires English language disclosure. Companies listed on a non-U.S. stock exchange that does not require English language disclosure may qualify for the Current Information tier by providing a 12g3-2(b) confirmation via OTCIQ. Exchanges marked with an asterisk on our list of Qualified Foreign Exchanges indicates that OTC Markets Group treats the exchange as requiring English language disclosure.

• SEC Reporting Standard: Companies that file disclosure via the SEC’s EDGAR system in compliance with their SEC reporting obligations (including Regulation A (Tier 2), Regulation CF and Investment Companies). See: What happens when a company is no longer required to publish reports with the SEC?

• Non-SEC Reporting U.S. Banks and Bank Holding Companies: Banks that do not report to the SEC via EDGAR can follow our Disclosure Guidelines for Bank Reporting Companies

• Alternative Reporting Standard (ARS): Companies that do not fall within the categories above may follow our Alternative Reporting Standard to make material information publicly available to investors and remain the subject of public broker-dealer quotes:

  • OTCQX U.S. and OTCQB companies incorporated in the U.S. can provide disclosure pursuant to the Alternative Reporting Standard Disclosure Guidelines for OTCQX and OTCQB via our OTCIQ Disclosure & News Service. OTCQX companies are also subject to the eligibility requirements and terms of the OTCQX Rules for U.S. Companies. OTCQB companies are subject to OTCQB Rules.

  • Pink companies may publish disclosure in accordance with the Pink Disclosure Guidelines . Companies must meet the requirements for “Current Information” or “Limited Information” under the guidelines to remain eligible for public broker-dealer quotes.

Other Reporting Obligations:

• Corporate Actions - SEC Rule 10b-17 requires all OTCQX, OTCQB and Pink companies to provide timely notice to FINRA of certain corporate actions, including dividends, stock splits, reverse splits, name changes, mergers, acquisitions, dissolutions, bankruptcies or liquidations, at least 10 days prior to the record date. Companies who fail to report such corporate actions in the required time may be subject to fines up to $5,000. For more information, see?FINRA's Notice to Member 10-38. For further details, contact FINRA's Operations Department at 866-776-0800.