logo-loader

OTC Markets Group introduces US bank holding company annual reports to its website

Published: 15:21 15 Dec 2020 EST

OTC Markets Group Inc. -
More recently, the investor community has looked to Y-6 reports as a vetted source of harder-to-find principal shareholder and insider holdings information

OTC Markets Group Inc (OTCQX:OTCM) on Tuesday introduced a greater depth of disclosure within its bank holding company corporate data, through the addition of Y-6 annual reports to its otcmarkets.com website.

In a statement, OTC Markets noted that the latest enhancement provides a “more comprehensive overview” of the more than 550 US community banks trading on the OTCQX, OTCQB, and Pink markets.

As a part of its mission of operating open and transparent markets, OTC Markets has been continuously adding to its publicly available repository of bank disclosure including call reports and Y-9 reports. “In addition to these financial reports, Y-6 annual reports will provide investors with greater insight into corporate structure and insider ownership,” said the company.

READ: OTC Markets Group adds enhanced bank holding company Y-9 data to OTCMarkets.com

Y-6 reports are filed by all bank holding companies and include the requirement that those companies not registered with the SEC submit a copy of an annual report to shareholders if one is created. The Y-6 reports also require the submission of an organizational chart, an annual verification of domestic branches within the organization, and information on the identity, percentage ownership, and business interests of principal shareholders, directors, and executive officers.

"The data within Y-6 disclosure is key to helping investors evaluate and analyze the breadth of bank holding companies trading on our OTCQX, OTCQB and Pink markets," said Matthew Fuchs, who is the executive vice president of Market Data and Strategy at OTC Markets Group.

"Historically, Y-6 annual reports are used by Federal Reserve banks to monitor banks within their districts. But more recently, the investor community has looked to Y-6 reports as a vetted source of harder-to-find principal shareholder and insider holdings information."

Bank Holding Company data, including Y-6s, is available on bank disclosure pages on OTCMarkets.com and Canari, OTC Markets Group's web-based compliance interface.

In addition, Qaravan is part of OTC Market’s comprehensive Market Data offerings specifically designed to provide intuitive risk and performance analytics tailored to banking and finance industry professionals.

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 11,000 US and global securities.

Contact the author Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

Unlocking IPO Success: Insights from Jason Paltrowitz of OTC Markets Group

OTC Markets Group EVP of Corporate Services Jason Paltrowitz joined Steve Darling from Proactive to share some compelling findings from a study conducted by the OTC Markets. This study aimed to evaluate the performance of all Initial Public Offerings (IPOs) that took place on the NASDAQ CM and...

on 17/10/23