SEC Approves FINRA Amendments to OTC and NMS Securities Reporting Requirements
The SEC approved a FINRA proposal to establish new order routing disclosure report publication requirements for OTC and National Market System ("NMS") equity securities orders. The Order approving FINRA's proposed rule change was published in the Federal Register.
FINRA is adopting Rule 6151 ("Disclosure of Order Routing Information for NMS Securities") and Rule 6470 ("Disclosure of Order Routing Information for OTC Equity Securities") to require broker-dealers to (i) publish order routing reports for orders in OTC Equity Securities and (ii) submit order routing reports for both OTC Equity Securities and NMS Securities to FINRA, to be published on the FINRA website (see related coverage).