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What is the “E” All About
Have you ever seen a Ticker Symbol with more than four characters? Wondered what that fifth letter at the end of the stock symbol is? This three-page dispatch discusses why companies get an attachment to their symbol, what the addition of “E” means, the Eligibility Rule as well as an overview of other addendums and what they mean. A must read for investors, OTCBB officers, directors and management teams as well as anyone involved with a company considering the public markets. The Scarlet Letter: What is the “E” All About? For years, the National Association of Securities Dealers did not have requirements for companies wishing to list on the Over-the-Counter Bulletin Board. All of this changed in 1999 when the SEC approved amendments to NASD Rules 6530 and 6540. These changes created much stricter reporting requirements for OTCBB-listed companies, and with these requirements came regulations and rules about communicating the status of issuers to the general public. If a company does not comply with the reporting requirements of the NASD, a fifth character “E” will be added to the company’s trading symbol four days after the date the notice appears on the OTCBB Daily List. Lest ye think that “E” is the only additional letter that can be appended to a ticker symbol, the OTCBB has a whole host of character identifiers: This three-page white paper explores the changes to Rules 6530 and 6540 and the meaning of the additional character “E” on an issuer’s trading symbol. The OTCBB is a quotation service that displays real-time quotes, last-sales prices, and volume information for thousands of domestic and foreign securities. Securities that are eligible for listing on the OTCBB include national, regional, and foreign equity issues and warrants, units, and American Depository Receipts that are not listed on any other United States national securities market or exchange. While the OTCBB is operated by the NASD, individual brokerage firms or Market Makers initiate quotations for securities listed on the OTCBB. For years the OTCBB was not regulated in regards to audited financial statements, but in January of 1999, the SEC approved amendments to NASD Rules 6530 and 6540, making it mandatory for OTCBB-listed companies to report their current financial information to the SEC, banking, or insurance regulators. [continued...] Want to know more? Download the White Paper "What is the “E” All About" for just $9.95. People who ordered this paper also ordered: |
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