The National Association of Securities Dealers has delayed the application of revised IM-2110-2 to OTC equity securities until November 26 to give member firms additional time to upgrade their technology to comply with the rule. IM-2110-2 sets out members’ obligations under the so-called “Manning Rule,” which generally prohibits members from trading ahead of customer orders for their own account. This provision was amended in early 2007 to, among other things, expand its coverage to include over-the-counter (OTC) equity securities, as defined in NASD Rule 6610. The NASD will continue to apply the requirements of NASD Rule 6541 to orders in OTC equity securities prior to the application of revised IM-2110-2. All other amendments to IM-2110-2 (not related to the inclusion of OTC equity securities) took effect on July 26.