OTC Markets Group Inc (OTCQX:OTCM) announced on Wednesday that Canadian companies traded on the OTCQX and OTCQB markets are now providing reliable current share data through their registered transfer agents directly to OTC Markets.
In a statement, the New York-headquartered group said nine transfer agents serving Canadian companies recently joined the Transfer Agents Verified Shares program bringing the total number of participating transfer agents to 45, representing over 1,200 US and Canadian securities traded on the OTCQX and OTCQB markets.
"This innovative process allows OTCQX and OTCQB companies to provide their shareholders with more trusted and timely information in an efficient manner," said OTC Markets Group CEO R Cromwell Coulson in a statement.
"By automating the process with regulated transfer agents, investor interests are better served without creating duplicative compliance burdens on management teams," he added.
Recent updates to OTCQX Rules and OTCQB Standards require Canadian companies, and those with a primary listing on a Canadian exchange, to retain a transfer agent that participates in this program, said the company.
All US and Canadian OTCQX and OTCQB companies must authorize their transfer agent to provide to OTC Markets Group information related to the company's securities, including authorized and outstanding shares.
The new transfer agents serving Canadian issuers include:
- Alliance Trust Company
- AST Trust Company Canada
- Capital Transfer Agency Inc.
- Computershare Canada
- National Securities Administrators Ltd.
- Odyssey Trust Company
- Olympia Trust Company
- Reliable Stock Transfer
- TSX Trust
"We are excited to extend our Transfer Agent Verified Shares Program to include Canadian transfer agents," said Liz Heese, executive vice president of Issuer and Information Services at OTC Markets Group. "This has been a three-year project targeted at improving the quality and timeliness of share data for investors in OTCQX and OTCQB companies."
Share data provided by transfer agents is displayed on www.otcmarkets.com alongside a "Verified" logo, signaling reliable information. The data is also disseminated through OTC Markets Group's market data feeds and is widely available to investors and broker-dealers.
The New York-headquartered OTC Markets Group is the operator of the OTCQX Best Market, the OTCQB Venture Market, and the Pink Open Market for 10,000 US and global securities.
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