OTCQX

OTCQX

The OTCQX market includes both multinational companies seeking access to U.S. investors and domestic growth companies.[13] To be traded on this tier, companies must undergo a qualitative review by OTC Markets Group.[14] Companies are not required to be registered with or reporting to the SEC, but they must post financial information with OTC Markets Group. In addition, U.S. companies must be ongoing operations (i.e., no shells) and may not be in bankruptcy, while foreign issuers must meet the requirements of qualified foreign exchanges.[9][15] Additional oversight of OTCQX securities is provided by requiring every issuer to be sponsored by approved third-party investment banks or law firms, called Principal American Liaison (PAL) for non-U.S. issuers and Designated Advisors For Disclosure (DADs) for U.S. issuers.[9][13][15]