The Pink Sheets still suffers a bit from its old reputation [1] as a haven for shady firms. Trading in more than 30 companies suspected of criminal spam activity was suspended just recently. But as a quotation system, it has been working hard to improve its services, quality and image. In many respects, that work has paid off. And you have to wonder if Pink Sheets will benefit from Sarbanes-Oxley--it certainly senses opportunity. The Pink Sheets has recently launched a "premier" listing tier that aims to attract companies that want to avoid the burdens of SEC registration with Sarbanes-Oxley. The goal is to attract higher-quality companies that are distinct from distressed and shell companies that account for about 45 percent of the 8,000 listed companies. In other words, they want an AIM-like venue [2]. Stay tuned.

For more:
- here's a Financial Times article [3]