Monday, June 17, 2013

OTC Market Update: Cromwell Coulson Testifies Before House Subcommittee: "Reducing Barriers to Capital Formation"

In his testimony on June 12, Mr. Coulson, President and CEO of OTC Markets Group, discussed the value of public trading to small, growing companies and to the U.S. economy and the importance of transparency in trading and company information to creating more efficient marketplaces. He also discussed several of his proposals for reducing barriers to capital formation for small companies: the need for the SEC to act quickly on remaining JOBS Act provisions, the need for a “carefully crafted” tick size pilot program, margin eligibility for all high quality public companies and more transparency of stock promotion activity. He also cautioned the Committee not to “govern by fear” in its approach to market structure and to embrace fragmentation as a sign of diverse choice and competition. Read Mr. Coulson’s full written testimony or watch the archived webcast.


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