On October 21st, the Financial Industry Regulatory Authority partially withdrew previous interpretive guidance that excluded free writing prospectuses from the requirements of NASD Rules 2210 and 2211. The content standards, the principal review requirements and applicable filing requirements in NASD Rules 2210 (Communications with the Public) and 2211 (Institutional Sales Material and Correspondence) will apply to free writing prospectuses distributed by broker-dealers in a manner reasonably designed to lead to their broad unrestricted dissemination, as described in Securities Act Rule 433. FINRA Regulatory Notice 10-52.