On May 23rd, the Financial Industry Regulatory Authority announced that the SEC has approved a rule that requires all over-the-counter transactions in equity securities be reported to FINRA as soon as practicable, but no later than 10 seconds, following execution. With respect to trades that are reported manually, FINRA will take into consideration the complexity and manual nature of the execution and reporting of the trade when reviewing for firm compliance with the new reporting time frame. The amendments also apply to trade cancellations, as well as stop stock and prior reference price trades. The amendments are effective November 4, 2013. FINRA Regulatory Notice 13-19.