On January 7, 2014, the US Financial Industry Regulatory Authority (“FINRA”) filed a proposed rule change with the Securities and Exchange Commission (“SEC”) to extend the expiration date of FINRA Rule 0180, which temporarily limits the application of rules such as the FINRA Rule 3110 – the supervision rule – and the books and records rule to security-based swaps, with certain exemptions. The rule change would extend the expiration date to February 11, 2016.

The text of the proposed rule change is available at:

http://www.finra.org/web/groups/industry/@ip/@reg/@rulfil/documents/rulefiling s/p602255.pdf.