Which One of the Following Is Not a True Statement

Which one of the following is not a true statement?

A) The over-the-counter market is a network of dealers who buy and sell the securities of corporations that are not listed on a securities exchange.
B) Account executives in the OTC market specialize or make a market in the securities of one or more specific firms.
C) Most OTC trading is conducted in person in the account executive's office.
D) Since 1971, account executives' operating in the OTC market have used an electronic quotation system called NASDAQ.
E) NASDAQ is regulated by the National Association of Securities Dealers.