FINRA Proposal Extending Tier Size Pilot for OTC Equity Securities Published in Federal Register

FINRA's request for comments on its proposal to extend the Tier Size Pilot program until June 10, 2016 was published in the Federal Register. The current program is scheduled to expire on December 11, 2015.

The Tier Size Pilot was filed with the SEC originally 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").