On April 28th, the Financial Industry Regulatory Authority announced that the SEC has approved amendments requiring the reporting of OTC trades in equity securities within 30 seconds of execution. The new reporting time frame also applies to trade cancellations that currently are subject to 90-second reporting, as well as stop stock and prior reference price trades. The amendments are effective November 1st, 2010. FINRA Regulatory Notice 10-24; see also Winston & Strawn Client Briefing on the Rule Change.