FINRA Proposes Extending Tier Size Pilot for OTC Equity Securities

FINRA proposed extending the Tier Size Pilot program scheduled to expire on December 11, 2015 until June 10, 2016. The Tier Size Pilot was filed originally with the SEC on October 6, 2011 to amend the minimum quotation sizes for OTC Equity Securities. The purpose of the extension is to provide FINRA with additional time to finalize its recommendation concerning the pilot. The proposed rule change amends FINRA Rule 6433 ("Minimum Quotation Size Requirements for OTC Equity Securities").