Rodman & Renshaw Capital Group has entered into preliminary agreement with Financial Regulatory Authority (FINRA) to acquire specified assets related to the OTC Bulletin Board (OTCBB), which is currently operated by FINRA.
Rodman & Renshaw is a full-service investment bank dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions.
The company also provides research and sales and trading services to institutional investors
Rodman & Renshaw CEO and president Edward Rubin said that the prospects of acquiring the OTC Bulletin Board assets and the opportunity that it presents for expanding the quality services and products that company offers to the financial community and the potential to further diversify our revenue base will benefit the company.
The transaction is expected to be completed in the first quarter of 2011. However, it is subject to negotiation and execution of definitive documentation and regulatory approvals.