FINRA Proposes Amendments Regarding Fees for OTC Reporting Facility and Historical Research

FINRA filed with the SEC proposed amendments to Rule 7710 relating to fees for the OTC Reporting Facility ("ORF"), as well as the deletion of Rule 7740 relating to historical research and administrative reports. These amendments concern the migration of the ORF to FINRA's Multi-Product Platform ("MPP").

FINRA's MPP is a platform owned by FINRA and developed by NASDAQ which consolidates FINRA's technology for gathering and disseminating trade execution and, where applicable, quotation data, conducting trade comparisons and gathering associated regulatory data for debt and equity securities.

Prior to migration to the MPP, FINRA's Trade Reporting and Compliance Engine, Alternative Display Facility, and ORF operated on separate technology platforms. The ORF will migrate to the MPP on September 15, 2014, therefore necessitating amendments to certain rules relating to the ORF.

See: Text of the Proposed Amendments.