The Financial Industry Regulatory Authority, Inc. is proposing to adopt rules governing the quotation requirements applicable to over-the-counter (OTC) equity securities. The rules would establish minimum standards for quotations and require fair and non-discriminatory access to member inter-dealer quotation systems. Member inter-dealer systems would be required to adopt and provide to FINRA written (i) policies and procedures on the collection and dissemination of OTC securities quotations, (ii) standards for fair and non‑discriminatory system access and (iii) descriptions of each quotation-related data product along with pricing information. FINRA is also proposing minor amendments to its existing rules on quotation reporting requirements and to delete FINRA Rule 6500 Series governing the operation of the OTC Bulletin Board Service. 

Click here to read the proposed rules.