SR-FINRA-2010-041

Proposed Rule Change to Amend FINRA Rule 2360 (Options) to Extend the Time to Submit Contrary Exercise Advice and the Time for a Final Exercise Decision in the Event of a Modified Close of Trading

Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend FINRA Rule 2360 (Options) to: (1) extend the time by which members must submit Contrary Exercise Advice (“CEA”) notices; (2) amend the time for a final exercise decision in the event of a modified close of trading; and (3) make certain changes to reorganize the rule text to clarify the rule requirements.