Amendments to NASD Regulation, Inc. By-Laws

NASD Regulation, Inc., has filed with the SEC a proposed rule change to make certain changes to the NASDR By-Laws in order to conform the NASD Regulation, Inc. By-Laws to the NASD By-Laws and to increase the maximum size of the NASD Regulation Board. As such, the proposed rule change is immediately effective pursuant to Section 19(b)(3)(A) of the Act.