Regulatory Alerts2022-11-30
Added · Updated
Securities Industry (Over-The-Counter Market) Guidelines 2022
The Securities and Exchange Commission issued these 2022 Guidelines to regulate the Over-The-Counter (OTC) market by mandating licensing for market operators and securities dealers. The framework establishes operational standards, including independent management structures, mandatory dematerialization of unlisted securities, and strict disclosure obligations for issuers regarding price-sensitive information and financial performance. Licensed OTC markets and issuers must submit regular trade, surveillance, and financial reports to the Commission, while non-compliance triggers administrative penalties, sanctions, and a one-year transitional compliance period.
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