The OTC Bulletin Board OTCBB eligibility rule required companies whose securities were quoted on the OTCBB to file updated financial reports with the SEC or with their banking or insurance regulators. If these companies failed to file current financial reports, their securities would be removed from the OTCBB, but could be quoted in another system, such as the Pink Sheets.
The eligibility rule was phased in over a 12-month period and ended June 22, 2000. On the OTC Bulletin Board's website, you can find a history of the rule and data concerning companies that were removed from the OTCBB.[1]
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