The Financial Industry Regulatory Authority has issued Regulatory Notice 10-01 requesting comment on proposals relating to FINRA’s membership rules. These rules allow FINRA, through its Membership Application Process (MAP), to assess the proposed business activities of potential and current member firms. The proposed amendments would revise the existing membership rules to streamline the standards of review for new and continuing membership applications, clarify certain administrative aspects of the MAP process, update or eliminate outdated terminology, require certain additional information about the applicant and incorporate certain provisions from the Incorporated New York Stock Exchange membership rules. In addition, under the proposed amendments, FINRA will require applicants to disclose certain information regarding their affiliates. Comments are due to FINRA by March 5.