Notice of Filing of Amendment No. 2 and Order Granting Accelerated Approval of a Proposed FINRA Rule Change, as Modified by Amendment Nos. 1 and 2, to Amend FINRA Rule 6433 (SEC Release)

On October 6, 2011, FINRA filed with the SEC a proposed rule change to amend FINRA Rule 6433 ("Rule"), which governs minimum quotation size requirements for OTC Equity Securities ("Original Proposal"). The proposed rule change is intended to simplify the Rule's price and size tiers; facilitate the display of customer limit orders under FINRA Rule 6460 (Display of Customer Limit Orders); and expand the scope of the Rule. The proposed rule change was published for comment in the Federal Register on October 20, 2011. The SEC received seven comment letters on the Original Proposal from four separate commenters, as well as two responses to the comment letters from FINRA. On January 17, 2012, the SEC instituted proceedings pursuant to Section 19(b)(2)(B) of the Exchange Act to determine whether to approve or disapprove the proposed rule change. The Order Instituting Proceedings was published for comment in the Federal Register on January 24, 2012. The SEC received one comment letter in response to the Order Instituting Proceedings. On April 17, 2012, FINRA filed Amendment No. 1 to the proposed rule change. The proposed rule change, as modified by Amendment No. 1, was published for comment in the Federal Register on April 20, 2012. The SEC received two comment letters on the proposed rule change, as modified by Amendment No. 1. On June 5, 2012, FINRA filed Amendment No. 2 to the proposed rule change.

The SEC is publishing this Notice and Order to solicit comment on Amendment No. 2 and to approve the proposed rule change, as modified by Amendments Nos. 1 and 2 thereto, on an accelerated basis.

View notice in full here (links externally to SEC website).