The National Association of Securities Dealers (NASD) (now the Financial Industry Regulatory Authority (FINRA)) has incorporated certain rules of the New York Stock Exchange in connection with the consolidation of the member regulation operations of NASD and NYSE. The incorporated NYSE rules pertain to the regulation of NYSE member firm conduct and would apply solely to members of NYSE that are also members of FINRA. During an interim period prior to the approval of a consolidated FINRA rulebook, FINRA’s rules consist of both the NASD manual and these incorporated NYSE rules. Therefore, no new rule requirements have been imposed upon member firms as a result of the regulatory consolidation – firms that were previously NASD-only firms continue to be subject to the NASD rules, NYSE-only firms continue to be subject to the NYSE rules, and dual NASD-NYSE members will continue to be subject to both NASD and the incorporated NYSE rules.