Proposed Rule Change to Establish An Administration and Delivery Fee for the Municipal Advisor Representative Examination (“Series 50 examination”)

Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend Section 4(c) of Schedule A to the FINRA By-Laws to establish an administration and delivery fee for the new Municipal Advisor Representative Examination (“Series 50 examination”).