Series 24: OTC Bulletin Board (OTCBB)

Taken from our Series 24 Online Guide

OTC Bulletin Board (OTCBB)

OTC securities are securities that are not listed or traded on Nasdaq or any other national securities exchange. In compliance with the Penny Stock Reform Act (1990), which mandated the SEC to establish an electronic system to display OTC securities, the OTC Bulletin Board was created. The OTC Bulletin Board is an electronic quotation system for OTC equity securities, and it is a dealer system, meaning that only market makers may apply to quote securities on this service.

Because the OTCBB is a quotation service for its market makers and not an issuer listing service or securities exchange, there are no quantitative listing requirements that must be met. However, beginning in 1999 with the passage of the OTCBB Eligibility Rule, securities were required to report their current financial statements to the SEC and other regulators to be registered.

The OTCBB allows users to view real-time quotes pertaining to OTC non-listed equity securities, last-sale prices, and volume information relating to OTC non-listed securities. The OTCBB does not give users the ability to execute transactions. It simply allows OTCBB users to enter and view quotations.

A member firm that has qualified as a market maker in a particular OTCBB-eligible security may enter into the OTCBB service:

• Firm quotes (priced bids)
• Unpriced indications of interest (including bid wanted and offer wanted). These bids allow participants to ascertain levels of

+ Read More

More Series 24 Info

What are people saying?

Create an Account

Since you're reading about Series 24: OTC Bulletin Board (OTCBB), you might also be interested in:

Series 24 - 4.2.9.5. Exemptions for Offshore Transactions: Regulation S

Series 79 - Restrictions on Compensation of Research Analysts

Series 65 - Exercise

Series 79 - 3.3.2. Fixed-Charge Coverage Ratio

Series 53 - Reporting and Payment of Designated Orders

Series 7 - Chapter Eleven

Series 26 - Net Capital Requirements for Different Types of Firms

Series 53 - VRDO Reporting and Disclosure Requirements

Series 52 - 8.1. Overview of U.S. Securities Regulation

Series 7 - 15.8 Borrowing by Brokers: Rehypothecation

Please Enable Javascript
to view this content!

Site Login

TESTIMONIALS

What are people saying?

I passed my Series 24 with two weeks of nearly full-time study, using the textbook, the online class, and the exam simulator. The textbook was very readable and helpful in providing complete explanations, as well as helpful memorization tips. The online class and pre-recorded sessions were crucial to get through all of the material and put it in relative context. It was helpful to be able to have questions answered instantly and via email afterward. The online simulator questions were just like the exam questions, and the immediate feedback function was essential for learning from the practice quizzes and exam. I needed every minute of my study and practice time to count, and Solomon Exam Prep made it possible. Thank you!

T. Richmond, Bethesda, MD

I originally started studying for the series 24 with Test Teachers... After being frustrated with confusing material, out of date information, contradicting questions/answer/study guides, I bought Solomon's practice exams... After one test, two things became clear: I was grossly unprepared for the exam The material, though difficult, didn't have to be taught in such a confusing manner.I passed the 24 on the fist time because of the quality of the practice exams from Solomon. Thank you! Putting it another way...If you are using anyone else to study, you owe it to yourself and your efforts to buy the practice exams from Solomon to get a true judge of your studying efforts.

Will, Bainbridge Island, WA

Taking the Series 24 class with Karen Solomon this week helped reinforce the data that I learned, and I passed my exam! The material was thorough and the exam simulator was an excellent tool to test your knowledge. Thank you Karen!

Karen Lessard, Concorde Investment Service Frisco, TX

This is my fourth time using Solomon's exam materials (Series 99, 7, 63, and now the 24)....and I PASSED once again on my first try. Thank you Solomon- your exam question simulator was extremely helpful!

Kim Schmidt, Elmcore Securities, Las Vegas

I took my Series 24 on July 28 and passed!! I had not passed 2 prior Series 24 exams and was down to my last attempt. A fellow principal on my team who had not passed his Series 24 his first time told me about the Solomon practice tests and how they helped him. It was such a big help for me passing exam as the questions were structured more like the real exam than any other practice tests I’ve taken. I have since gone to other employees at my firm for other tests, such as the Series 7, SIE among others and have told them about the Solomon test materials and some of them are now purchasing Solomon as well.

Thadius Beavers, Prospera Financial. Dallas, TX.

I tried studying on my own using materials from another vendor, which was super wordy and lengthy. After much frustration, I looked for new study materials and discovered Solomon. It is concise, clear and presented well. The subject area quizzes and practice exams were unlimited and very helpful. Six weeks later I passed the Series 24 with an 85! I would not hesitate to use Solomon again, should the need arise.

Yasmeen M.