ESSENTIAL INFORMTION FOR BROKERS, DEALERS AND CLEARING FIRMS
The OTCMarkets Group created the “alternative reporting standard” under the auspices of the OTC Disclosure and News Service during the infancy of the internet. Ensuing from this early entry into the marketplace, OTCMarkets Group has developed an until-now unchallenged position as the internet platform on which publicly traded companies who do not file reports with the U.S. Securities and Exchange Commission are enabled to publish current business, management, financial and stock related information. In the “old days”, companies published their information in “standard securities manuals” as a means of satisfying blue sky requirements for secondary market trading exemptions and providing to broker-dealers for their “records” the information required by Rule 15c2-11 needed to publish quotations for a security. Mergent and Standard & Poor’s securities manuals still exist as venues for publication of corporate information, but are not conveniently and freely available to the average investor, and perhaps not even understood now by the microcap securities industry. Accordingly, OTCMarkets designations of “current information”, “yield”, “stop” and “dark” have become by default the terminology recognized as designations for the level of information made available by publicly traded, alternative-reporting-standard companies, i.e., all companies with trading symbols who do not file reports with the SEC. Microcap Reporting offers an alternative, lower cost internet platform on which these companies can now publish information required by Rule 15c2-11.