Proposed Rule Change to Restructure Quotation Collection and Dissemination for OTC Equity Securities - Extension of Time Period for SEC Action

FINRA/NASD has filed with the SEC an extension until February 15, 2013 for SEC action on a proposed rule change to restructure quotation collection and dissemination for securities currently quoted through Pink Sheets and the OTC Bulletin Board Service ("OTCBB"). In connection with the proposal, FINRA would cease operation of the OTCBB, establish a Quotation Consolidation Facility ("QRF") for non-exchange listed equities and certain other equities that do not qualify for real-time trade reporting, and require members that directly display quotations on inter-dealer systems to contemporaneously submit the quotes to the QRF.

See: FINRA Extension No. 40.See also: Text of Proposed Rule Change; Response to Comments; Amendment to Proposed Rule Change.