Proposed Rule Change Relating to a New Limited Representative Registration Category for Investment Banking Professionals

Financial Industry Regulatory Authority, Inc. ("FINRA") (f/k/a National Association of Securities Dealers, Inc. or ("NASD")) is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to establish NASD Rule 1032(i), a new limited representative registration category for investment banking professionals. The proposed rule change also sets forth the registration requirements for principals who supervise investment banking activities and clarifies the registration requirements for principals who supervise private securities offering activities.