“Listing on the OTCQX” by Michael Hagan

OTCQX International Provides Access for U.S. Trading to Foreign Issuers

by Michael J. Hagan
October  2014

Non-U.S. companies are often eager to gain access to U.S. public markets to trade their securities and enhance both their liquidity and the company’s profile. At the same time, a number remain cautious and have concerns regarding the rigors of the registration process with the U.S. Securities and Exchange Commission (SEC) and the possible burdens and exposure associated with the ongoing reporting requirements under U.S. securities laws. Increasingly, non-U.S. companies that are traded on a qualified non-U.S. exchange have found OTCQX International a desirable route for accessing U.S. trading markets.

This article provides a brief overview of the key steps for qualified non-U.S. companies to “list” their securities for trading with U.S. investors.[1]

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[1] This note does not constitute formal legal advice and does not discuss all of the legal questions that a company must address to qualify its securities for trading on OTCQX International. Readers are advised to consult with their legal advisers. This note follows the convention of referring to quotation on OTCQX as a listing, even though the SEC does not consider OTCQX to constitute a securities exchange.