On November 1st, FINRA announced the SEC has approved amendments to NASD Rule 2711 and Incorporated NYSE Rule 472 to conform the rules to the requirements of the Jumpstart Our Business Startups Act and to make certain additional changes to quiet period restrictions consistent with the policies underlying the JOBS Act. Most of the changes to NASD Rule 2711 and Incorporated NYSE Rule 472 are effective retroactively to April 5, 2012; changes to those rules regarding quiet periods after secondary offerings and after the expiration, termination or waiver of a lock-up agreement became effective upon approval by the SEC on October 11, 2012. FINRA Regulatory Notice 12-49.