The SEC solicited comments on FINRA's proposed amendment to Rule 6433. The amendment would extend the effective date of the Tier Size Pilot until December 9, 2016. The request for comments was published in the Federal Register. The Tier Size Pilot, which otherwise was set to expire on June 10, 2016, amends the minimum quotation sizes, or tier sizes, for over-the-counter equity securities (i.e., unlisted equity securities) depending on the price level of each quotation.
The proposed rule change operative date will be June 10, 2016. Comments on the proposal must be submitted by June 23, 2016.
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