FINRA Publishes Proposal to Extend Tier Size Pilot Regarding OTC Equity Securities

FINRA's proposal to amend FINRA Rule 6433 ("Minimum Quotation Size Requirements for OTC Equity Securities") was published in the Federal Register. The amended proposal would extend the Tier Size Pilot involving the minimum quotation size requirements for OTC equity securities.

FINRA proposes to extend the Tier Size Pilot from May 15, 2105 to August 14, 2015. The Tier Size Pilot was filed 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 with regard to the pilot.

The proposal has been deemed noncontroversial and the amendments are effective immediately. Comments on the proposal must be submitted by June 8, 2015.

See: 80 FR 28327.Related news: FINRA Pilot Proposal Extending Tier Size Published in Federal Register (February 18, 2015); FINRA Proposes to Extend Tier Size Pilot (January 30, 2015); FINRA Rule Change to Extend Tier Size Pilot Regarding Minimum Quotation Size Requirements for OTC Equity Securities Published (Fed. Reg.) (October 9, 2014); FINRA Proposed Rule Change to Extend Tier Size Pilot of FINRA Rule 6433 (November 6, 2013).