FINRA Proposes to Extend Tier Size Pilot

FINRA filed with the SEC a proposed rule change to amend FINRA Rule 6433 ("Minimum Quotation Size Requirements for OTC Equity Securities") to extend the Tier Size Pilot for an additional three months, until May 15, 2015.

The purpose of the extension is to provide FINRA with additional time to finalize its recommendation with regard to the Pilot. The proposed rule change was filed for immediate effectiveness.

See: Text of Proposed Rule Change.Related news: FINRA Rule Change to Extend Tier Size Pilot Regarding Minimum Quotation Size Requirements for OTC Equity Securities Published (Fed. Reg.) (October 9, 2014); FINRA Proposed Rule Change to Extend Tier Size Pilot of FINRA Rule 6433 (November 6, 2013).