SEC Amendments to OTC Equity Trade Reporting Rules

Orrick - Finance 20/20
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On May 23, the SEC approved amendments to FINRA trade reporting Rules 6282, 6380A, 6380B, 6622, 7130, 7230A and 7230B to require member firms to report over-the-counter transactions in equity securities to FINRA as soon as practicable, but no later than 10 seconds following execution. The amendments also apply to trade cancellations as well as stop stock and prior reference price trades. The amendments will become effective on November 4. FINRA Notice. FINRA Amendments.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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