• Dec. 7, 2016, 2:33 am

OTC Markets Group files SEC petition

OTC Markets Group has filed a Petition for Rulemaking with the Securities and Exchange Commission (SEC). The petition asks the SEC to make amendments to Regulation A+ to expand the ability of small users to use the online capital raising method.

The significant investor protections under Regulation A+, including the transparency of a permanent disclosure record to investors, also serve small companies, investors and regulators more than the murky process normally presented to institutional investors, OTC believes.

“Regulation A+ securities offerings are tailor made for smaller companies and investment banks to utilize technology to transparently offer shares online the way Amazon sells books,” OTC CEO and president R. Cromwell Coulson said. “By excluding SEC reporting companies, the SEC missed a critical opportunity to expand access to capital, drive costs lower, and support small company growth.

“Fighting to extend Regulation A+to the thousands of smaller companies that have invested the time and resources in being fully SEC reporting is imperative, not only to these companies but to the American economy as a whole.

“We most modernize securities regulations to embrace the efficiencies of the internet age.”

Get Daily Digest

No spam guarantee.

Leave A Comment