On April 8, the Financial Industry Regulatory Authority filed with the Securities and Exchange Commission a proposed rule change to adopt the remaining National Association of Securities Dealers (NASD) Rules and Incorporated NYSE Rules as FINRA Rules in the Consolidated FINRA Rulebook without any substantive changes.

The rule change covers areas such as membership rules, foreign members, customer account statements, discretionary accounts, approvals of changes in exempt status under Rule 15c3-3 of the Securities Exchange Act of 1934, reporting requirements for clearing firms and interpretations of the Incorporated NYSE Rules. Corresponding cross-references and technical updates will also be made in the Consolidated FINRA Rulebook to reflect the aforementioned changes. The rule change is intended to (1) eliminate the Transitional Rulebook, and (2) provide member firms with greater clarity and regulatory efficiency. The rule change was effective upon filing.

The text of the rule change is available here.