On April 30th, the Financial Industry Regulatory Authority ("FINRA") announced that it will introduce a new public offering filing system for public offerings that are required to be filed under FINRA Rules 5110, 5121 and 2310 (Corporate Financing Rules). The new system will replace COBRADesk, which has been operational since 1999 and will be retired on June 20, 2012. The new filing system will be available June 4, 2012. FINRA Regulatory Notice 12-22