SEC Approves Amendments Regarding Reporting Transactions to the OTC Reporting Facility

Posted on June 18, 2010 by Daren R. Domina

Co-authored by Louis Froelich

The Securities and Exchange Commission has approved amendments relating to the reporting of over-the-counter (OTC) transactions in non-National-Market-System stocks to the OTC Reporting Facility (ORF). Effective November 1, firms must comply with amended rules on applicable trade report modifiers when reporting such transactions. Among other things, the amendments reorganize the format and structure of Financial Industry Regulatory Authority Rule 6622(a) so that it conforms generally to the trade reporting rules of the Alternative Display Facility and Trade Reporting Facilities. Although not yet required under current FINRA Rule 6622(a), firms are already permitted to use certain of the amended trade report modifiers when reporting to the ORF.

Click here to read FINRA Regulatory Notice 10-29.

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