FINRA Proposed Rule Change to Extend Tier Size Pilot of FINRA Rule 6433

FINRA filed a proposed rule with the SEC amending FINRA Rule 6433 ("Minimum Quotation Size Requirements for OTC Equity Securities") to extend the tier size pilot, which is currently schedule to expire on November 12, 2013.

According to FINRA, extending the operation of the tier size pilot for an additional year will provide the SEC with more thorough data about the impact of the tier size pilot on quoted OTC equity securities over a longer time period. FINRA will continue to provide the SEC with certain pre- and post-pilot data.

See: Text of the Proposed Rule Change.Related news: SEC Approves Amended Minimum Quotation Sizes for OTC Equity Securities on a Pilot Basis (FINRA Regulatory Notice) (August 5, 2012).