FINRA Notice of Meeting and Proxy

The Annual Meeting of member firms of the Financial Industry Regulatory Authority, Inc. (FINRA) will be October 26, 2007 at 10 a.m. in the FINRA Visitors Center, 1735 K Street, NW, in Washington, DC. The purpose of the meeting is to conduct the election of governors to the FINRA Board. Member firms can also raise other topics for discussion if they notify FINRA by October 19, 2007.¹

It is important that all member firms be represented by proxy or in person at the Annual Meeting. Firms are urged to vote in the election of Board governors using one of the methods described below. In order for a proxy to be considered valid, it must be signed by the executive representative of a member firm eligible to vote in the election.

Firms that are members of FINRA as of the close of business on September 24, 2007 (the record date for the Annual Meeting) will be eligible to vote in this election.

1 As stated in Sections 1 and 3(b) of Article XXI of the FINRA By-Laws, a FINRA member firm may bring other business before the Annual Meeting by giving timely notice in writing to the Corporate Secretary. The firm must be a FINRA member at the time of the delivery of such notice, and the other business must be a proper matter for member action. To be timely, a member firm's notice must be delivered to the Corporate Secretary at FINRA's principal executive offices (1735 K Street, NW, Washington, DC 20006) within 25 days after the date of this Election Notice. The firm's notice must include a brief description of the other business, any material interest of the firm in such business and the reasons for conducting such business at the Annual Meeting.