Effective November 10, 2010, FINRA’s prior 90-second trade reporting requirement has been replaced with a 30-second trade reporting requirement. This applies to OTC trades made in equity securities during the hours that FINRA trade reporting facilities are open (generally 8 AM to 8 PM Eastern Time). This change also affects trade cancellations that were subject to 90-second reporting. Note that bonds are typically have a 15-minute trade reporting requirement.
Relevant to the Series 7, Series 62 and the Series 24 General Securities Principal exam.
http://www.finra.org/Industry/Regulation/Notices/2010/P121342