On October 26th, the SEC provided notice of the Financial Industry Regulatory Authority's filing of a proposal to adopt certain modified NASD and NYSE rules regarding books and records into the FINRA Rulebook. The proposed rule change would rewrite the FINRA books and records rules with a view to achieving three goals: streamlining the rules to make them as clear as possible; grouping the requirements along similar subject matter lines to make finding them a more intuitive process and to provide members with a better understanding of the regulatory scheme; and eliminating those requirements contained in the current rules that have become obsolete or otherwise duplicative. Comments should be submitted within 21 days after publication in the Federal Register, which is expected during the week of November 1. SEC Release No. 34-63181.