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Types of Micro-Caps

What is the “Over-the-Counter” (OTC) market?

U.S. listed stocks that do not trade on recognized national stock exchanges, such as the New York Stock Exchange (NYSE) or NASDAQ, trade in markets described as “over-the-counter” (OTC).

The OTC market is less stringent than national exchanges when it comes to matters such as listing requirements and clarity of investor information. The OTC market exists primarily to give small companies access to public investor capital.

What Is The OTC Bulletin Board?

The OTCBB is an acronym for the Over-the-Counter Bulletin Board. This OTC bulletin Board is described is an electronic quotation system for small companies.

What Are The Pink Sheets?

The Pink Sheets, like the Over-the-Counter-Bulletin Board (OTCBB), is an electronic quotation system. The Pink Sheets present quotes from broker dealers for many over-the-counter (OTC) securities. The Pink Sheets are useful for brokers to publish their bid and ask quotation prices.

A privately owned company, Pink Sheets LLC, publishes the Pink Sheets. The Pink Sheets electronic quotation system is not registered with the Securities Exchange Commission (SEC) and neither is the company a broker-dealer of the National Association of Securities Dealers (NASD).

The Pink Sheets used to be published daily on pink paper and distributed to broker-dealers. This is where the name Pink Sheets originated. Since the electronic age the distribution of printed pages has ceased and all quotation information is available on line.

What Is The NASD?

The NASD is the National Association of Securities Dealers. NASD is the world’s leading private-sector provider of financial regulatory services and has helped bring integrity to the markets – and confidence to investors – for more than 60 years.

NASD has long served as the primary private-sector regulator of America’s securities industry. They oversee the activities of more than 5,100 brokerage firms and approximately 659,000 Stock Brokers.

What Is The SEC?

The acronym SEC stands for the U.S. Securities and Exchange Commission SEC.

The primary mission of the U.S. Securities and Exchange Commission (SEC) is to protect investors and maintain the integrity of the securities markets. As more and more first-time investors turn to the markets to help secure their futures, pay for homes, and send children to college, these goals are more compelling than ever.

The SEC operates on the premise that it is only through the steady and comprehensive stream of accurate and reliable information that can people make investment choices of a sound and effective nature. The SEC exists primarily to devise rules and regulations that protect potential investors.

Are There Any Listing Requirements To List In The Pink Sheets?

Pink Sheets listing requirements are very minimal. Some disclosure must be made before listing but requirements are virtually non-existent.

Are There Any Minimum Listing Standards That Must Be Met In Order To List On The NASDAQ OTCBB Bulletin Board?

The OTCBB only requires for companies to be fully reporting with the SEC. All filings can be viewed on the SEC EDGAR system.

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