FINRA Requests Comments on a Proposal Regarding the Reporting of OTC Equity Trades (FINRA Reg. Notice 14-46)

FINRA issued a regulatory notice requesting comments on a proposal to identify over-the-counter ("OTC") trades in NMS stocks that are reported more than two seconds after trade execution as "out of sequence" and not last-sale eligible for public dissemination purposes.

FINRA believes that the proposal will reduce the likelihood of out-of-sequence trades being misconstrued, and will also increase the reliability of the transaction-reporting stream, which will help investors to understand the market conditions that prevail at the time of the execution of orders.

Comments must be received by January 9, 2015.

See: Regulatory Notice 14-46.