This section mentions that the OTCBB is operated by FINRA. But according to FINRA, the OTCBB was closed on Nov 8, 2021.
Also, Investopedia mentions that the OTCQB has taken its place. Do you know if that’s indeed true and whether that means that the OTCQB is now operated by FINRA?
Also, do you know if the Series 7 exam has been updated to reflect all this?
Hi @Mass_coffee_louse - you are correct. The OTCBB ceased operations about a year and a half ago. The OTCQB is a part of the OTC Markets Group, which is a private organization (not a regulator). FINRA regulates their activities, but will no longer operate any quotation services or markets.
In most circumstances, it takes time for FINRA to update its question bank when things change in the real world. This is a small change, and OTCBB test questions were already few and far-between. To ensure our customers are prepared for potential questions on the OTCBB, we’ve kept the OTCBB material up as is. Regardless, we will be removing the OTCBB from our materials by the end of this quarter.
For clarity, I added a note to the OTCBB chapter about its closure.