SR-FINRA-2011-033

Proposed Rule Change to Adopt FINRA Rule 0180 (Application of Rules to Security-Based Swaps)

Financial Industry Regulatory Authority, Inc. (“FINRA”) (f/k/a National Association of Securities Dealers, Inc. (“NASD”)) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to adopt FINRA Rule 0180 (Application of Rules to Security-Based Swaps).  The proposed rule change would, with certain exceptions, temporarily limit the application of FINRA rules with respect to security-based swaps.