The OTCBB could be for sale? Over-the-Counter Bulletin Board (OTCBB) Sale Announcement
As per a notice found at the following link, the full and complete notice below suggests that FINRA is interested in selling the assets of the OTCBB. http://www.finra.org/Industry/Compliance/MarketTransparency/P119958
Over-the-Counter Bulletin Board (OTCBB) Sale Announcement
As part of its market transparency role, the Financial Industry Regulatory Authority (FINRA) owns and operates certain quote and trade reporting facilities, including the Over-the-Counter Bulletin Board (OTCBB). The OTCBB is an inter-dealer quotation system on which FINRA-regulated broker-dealers may post OTC quotations in unlisted equity securities.
FINRA is proposing to shift its role from operating the OTCBB to acting as the consolidator and disseminator of all quotation and trade information for unlisted equity securities—non-listed, publicly traded equity securities. FINRA would continue to be the primary regulator of all over-the-counter trading activity.
As part of these changes, FINRA is proposing to divest itself of the ownership and operation of the OTCBB as an OTC inter-dealer quote system. To achieve this, FINRA intends to sell to an independent third party certain FINRA assets, including:
- the OTCBB.com Web site URL and reservation rights;
- certain OTCBB.com content; and
- the OTCBB trademark.
FINRA invites parties interested in the purchase of certain OTCBB sale assets to contact us. No FINRA contractual obligation whatsoever shall arise from the publication of this announcement. FINRA reserves the right to accept or reject any and all requests to engage in discussions with third parties, to change or limit the assets for sale listed above and/or to cancel the OTCBB sale process entirely.
Interested parties should contact: Christopher B. Stone, FINRA Transparency Services Department.
FINRA is the largest independent regulator for all securities firms doing business in the United States. FINRA is dedicated to investor protection and market integrity through comprehensive regulation. FINRA touches virtually every aspect of the securities business—from registering and educating all industry participants to examining securities firms; writing and enforcing rules and the federal securities laws; informing and educating the investing public; providing trade reporting and other industry utilities; and administering the largest dispute resolution forum for investors and firms.
For more information, please visit our Web site at www.finra.org.