United States:
FINRA Requests Additional Extension For Tier Size Pilot Program
06 June 2018
Cadwalader, Wickersham & Taft LLP
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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.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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