FINRA Proposes Amended Rule Change to Modernize and Simplify NASD Rule 2720

May 14, 2009

In an amended proposal dated May 1, 2009, the Financial Industry Regulatory Authority, Inc. ("FINRA") filed with the Securities and Exchange Commission (the "SEC") a proposed rule change to modernize and simplify NASD Rule 2720 (Distributions of Securities of Members and Affiliates - Conflicts of Interest) and make corresponding changes to FINRA Rule 5110 (Corporate Financing Rule).

FINRA Proposes Amended Rule Change to Modernize and Simplify NASD Rule 2720