This entry is part 9 of 12 in the series BCSC revises 51-509 Rule for U.S. OTC issuers
BCSC revises 51-509 Rule for U.S. OTC issuers

A major problem will arise for OTCBB shells that have Canadian shareholders after September 15, 2008. Namely, US based SEC attorneys who decide whether an OTCBB shell is suitable for their clients in the first place.


It is this writers opinion that counsel for the Buyer will not be able to clearly distinguish the new rules and will paint all shells with Canadian shareholders with the same brush. The result being they (US based SEC attorneys) will err on the side of safety and simply reject any shell with Canadian shareholders regardless of where they reside. This will decimate the pricing of Canadian shells by the end of 2008 and we will start seeing a substantial reduction of OTCBB shells coming out of all provinces of Canada starting in 2009.

Series Navigation«BCSC revises 51-509 Rule for U.S. OTC Issuers – Part 8BCSC revises 51-509 Rule for U.S. OTC Issuers – Part 10»

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