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Replies to post #73210 on DD Support Board and Research Team
Reminder: New FINRA ORF Platform
The migration date for firms to begin reporting OTC equity security trades and trades in restricted equity securities effected pursuant to Securities Act Rule 144A to the new OTC Reporting Facility (ORF) technology platform is September 15, 2014. Additional information can be found here. FINRA has also published a new FINRA OTC Reporting Facility (ORF) Migration Website. The SEC has approved amendments to the Equity Trade Reporting and OATS Rules that will also be effective on September 15, 2014. Broker-dealers that utilize a service bureau to report trades on their behalf are reminded that they must complete the FINRA Transparency Services Participation Agreement, FINRA Transparency Services Uniform Service Bureau/Executing Broker Agreement, and for those firms that have a service bureau reporting via a FIX connection the FINRA Services Port Request Form.
Require New Certification upon Filing a Form 211
FINRA has amended FINRA Rule 6432 (Compliance with the Information Requirements of SEC Rule 15c2-11) to require members to certify that they have not accepted any payment or other consideration for market making from issuers and related persons. The new Form 211 including the certification requirement may be found here.
New Requirements Require Alternative Trading Systems to Report Weekly Volume Information
Effective May 12, 2014, FINRA Rule 4552 requires Alternative Trading Systems (ATS) to (i) report to FINRA weekly volume information and number of securities transactions within the ATS by security and (ii) acquire and use a single, unique market participant identifier (MPID) when reporting information to FINRA. OTC Link® ATS provides reporting under this rule. The full notice can be found here. ATS Transparency Data can be found here.
Form 211 Information Repository
FINRA is soliciting comment on a proposal to make publicly available through FINRA’s website a repository of Form 211 information. FINRA’s Regulatory Notice may be found here.
Why You’ll Only Find OTCQX and OTCQB Securities On Our Home Page
A Letter from OTC Markets Group President and CEO R. Cromwell Coulson
You will soon notice changes to our homepage at OTCMarkets.com. Most importantly, you will see we feature only OTCQX and OTCQB securities in the Current Market Activity section and in the news releases, financial reports and videos feeds of our homepage. News releases, financial reports and videos for OTC Pink companies will still be available on the quote pages of individual OTC Pink securities and in the OTC Pink Market Activity and News sections of our sites.
Our homepage is the front door to our website and we want to share it with companies that embody our values of being open, transparent and connected. OTCQX and OTCQB companies have made the important investment to be open by providing thorough transparency to their investors and being connected to their U.S. trading market. While every market has some speculation and risk, the most efficient financial markets require the commitment of companies to widely share their current information so investors can intelligently analyze, value and trade their securities.
Click here to read the full letter.
