SEC/NYSE and NASDAQ List
The US Securities and Exchange Commission (“SEC”) via the New York Stock Exchange and Nasdaq Stock Market maintain details of Listing and De-Listing Requirements. After a company starts trading, it must continue to meet different standards set by the exchanges. Otherwise, the company can be delisted.
These continuing standards usually are less stringent than the initial listing requirements. Neither the Pink Sheets nor the OTC Bulletin Board has listing standards, although the SEC requires companies to be current in their filings before their stock can be quoted on the OTCBB.