FINRA filed a proposed rule amendment with the SEC to extend the Tier Size Pilot Program ("Pilot") for OTC equity securities (i.e., unlisted equity securities). The amendment would extend the Pilot until December 7, 2018. The Pilot, which otherwise is set to expire on June 7, 2018, modifies the minimum quotation sizes, or "tier sizes," for OTC Equity Securities.
As previously covered, the Pilot was initially proposed on November 12, 2012, and subsequently was extended ten times.
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