Proposed Rule Change to Extend the Date by which Eligible Registrants Must Complete Firm-Element Continuing Education to Qualify to Engage in a Security Futures Business

NASD is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to amend NASD Rule 1022 (Categories of Principal Registration) and NASD Rule 1032 (Categories of Representative Registration) to extend to December 31, 2009 the date by which eligible registrants must complete a firm-element continuing education program to qualify to engage in a security futures business.