The Financial Industry Regulatory Authority has issued a Trade Reporting Notice (the Notice) to remind firms that over-the-counter (OTC) trades in OTC Equity Securities and trades in Restricted Equity Securities under Securities Act Rule 144A must be reported to FINRA’s OTC Reporting Facility (ORF) in accordance with FINRA trade reporting rules.

The term “OTC Equity Security” is defined in FINRA Rule 6420 as any equity security that is not a National Market System stock and is not a Restricted Equity Security...