On September 20th, the Financial Industry Regulatory Authority announced that on February 11th, 2011, and May 9th, 2011, new FINRA rules that extend certain Regulation NMS protections to quoting and trading of over-the-counter Equity Securities will go into effect. These new rules: (i) set forth the permissible pricing increments for the display of quotations and acceptance of orders; (ii) require firms to avoid locking and crossing quotations within an inter-dealer quotation system; (iii) establish a cap on access fees imposed against a firm's published quotation; and (iv) require an OTC Market Maker, subject to certain exceptions, to display the full size of customer limit orders that improve the price of the marker maker's displayed quotation or that represent more than a de minimis change in the size of the market maker's quote if at the best bid or offer. FINRA Regulatory Notice 10-42.