SR-FINRA-2012-004

Proposed Rule Change to Extend the Implementation of FINRA Rule 0180 (Application of Rules to Security-Based Swaps)

Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to extend to January 17, 2013 the implementation of FINRA Rule 0180 (Application of Rules to Security-Based Swaps).  FINRA Rule 0180, filed for immediate effectiveness by FINRA on July 8, 2011, will expire on January 17, 2012.  FINRA Rule 0180 temporarily limits, with certain exceptions, the application of FINRA rules with respect to security-based swaps.