On August 15th, the SEC granted accelerated approval to FINRA's clarification of the application of the Operations Professional requirements to certain employees of foreign broker-dealers whose activities are limited to facilitating the clearance and settlement of foreign securities transactions. The proposed rule change would amend supplementary material .06 to FINRA Rule 1230(b)(6) to provide that employees of foreign broker-dealers whose activities relating to transactions in foreign securities on behalf of customers of FINRA members are limited to facilitating clearance and settlement will not be required to register as Operations Professionals pursuant to FINRA Rule 1230(b)(6)(A) where: (1) the member sending the order for a transaction in foreign securities on behalf of the customer to the foreign broker-dealer is not a direct participant of the applicable foreign clearing system; and (2) in executing such order in the foreign market, the foreign broker-dealer accepts the member's customer's instructions to settle the transaction in foreign securities on a DVP/RVP basis through the foreign clearing system and settle directly with a custodian for the customer. Comments should be submitted on or before September 9, 2011. SEC Release No. 34-65137.