Principal American Liaison: Advising OTCQX Companies About the U.S. OTC Market

The PAL provides guidance on corporate disclosure to the U.S. investor audience and advises OTCQX clients on accessing and attracting U.S. investors.

Companies listed on qualified non-U.S. stock exchanges require a Principal American Liaison (PAL) to sponsor their OTCQX membership. The responsibilities of the PAL include:

  • Acknowledge to OTC Markets Group that the issuer has completed the OTCQX disclosure requirements and that the issuer meets the requirements of the OTCQX tier to which they apply
  • Advise the issuer on the U.S. market and how to effectively access, attract, and communicate with U.S. investors

Companies interested in raising capital or increasing their profile with investors should choose an investment bank as their PAL, while large cap companies that are primarily concerned with providing credible disclosure can select an ADR bank or their U.S. attorney.

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