The Financial Industry Regulatory Authority, Inc. (FINRA) intends to rescind rules related to its OTC Bulletin Board Service due to its decline in usage and replace them with stricter standards for member-operated systems that update real-time quotations for over-the-counter equity securities. The Securities and Exchange Commission (SEC) is considering whether to approve or disapprove this proposed rule change and invites public comments to ensure it meets legal standards aimed at preventing fraud and ensuring fair trading. Proposed changes include establishing policies to ensure reliable and accurate quotation dissemination and fair access to quoting services, among other responsibilities for member inter-dealer quotation systems.
Simple Explanation
The people who help watch over stock trading are thinking about changing some old rules to make sure everyone plays fair when buying and selling certain types of stocks that don't get traded on big places like the New York Stock Exchange. They want to hear what others think about how these changes might make buying and selling stocks better or harder.