A Higher Standard For The OTCQX
On December 14, 2015 the OTC Markets Group announced that they were strengthening the standards for their OTCQX tier. This is just one more step in the OTC Markets Group's ongoing mission to increase its status among regulators and investors.
Changes include; the strengthening of the financial standards (including a continuing penny stocks prohibition), addition of corporate governance standards for U.S. companies and banks, and aligning "OTCQX U.S. Premier tier standards with financial standards of markets recognized by many states for Blue Sky law issuer exemptions".
While the majority of changes were financial, changes to corporate governance standards for US issuers and banks include:
A minimum of two independent directors on the board of directors;
An audit committee composed of a majority of independent directors;
Conduct annual shareholders' meetings and submit annual financial reports to shareholders at least 15 calendar days prior to such meetings.
To see the OTC Markets Group's full press release, click HERE.
About Acquis Capital: Acquis Capital is a private investment firm that specializes in funding strategic acquisitions. Acquis Capital's mission is to facilitate strategic acquisitions that increase the book and market value of top tier public companies, with market capitalizations under $300 million. To learn more please contact us today.
NOTE: THIS WEBSITE, BLOG, AND ALL OF ITS CONTENTS (THE “SITE”) ARE FOR INFORMATIONAL PURPOSES ONLY. THIS SITE SHOULD NOT BE CONSTRUED AS AN OFFER TO BUY OR SELL ANY SECURITIES OR AS AN OFFER TO TRANSACT. NOTHING ON THIS SITE SHOULD BE CONSIDERED FINANCIAL, LEGAL, OR TAX ADVICE. PLEASE READ OUR "LEGAL" SECTION HERE.