SEC Approves New FINRA Rule 4524 Requiring the Filing of Supplemental FOCUS Information and a Supplementary Schedule to the Statement of Income (Loss) Page of the FOCUS Report

FINRA Reg. Notice 12-11

The SEC approved the adoption of new FINRA Rule 4524 (Supplemental FOCUS Information), which requires each firm, as FINRA shall designate, to file such additional financial or operational schedules or reports as FINRA may deem necessary or appropriate for the protection of investors or in the public interest as a supplement to the FOCUS Report. The SEC also approved the adoption of one such schedule, the Supplemental Statement of Income (SSOI), as a supplement to the Statement of Income (Loss) page of the FOCUS Report.

Dates: The implementation date of FINRA Rule 4524 is February 28, 2012. The due date of the initial SSOI, covering the quarter ending September 30, 2012, is October 26, 2012.

Cross References: FINRA Rule 4524; FINRA Rule 2010; Exchange Act Rule 17a-5; SEC Release No. 34-66364, 77 FR 8938 (Feb. 15, 2012) (Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 2; File No. SR-FINRA-2011-064).

For more information about this document, you may contact one of the following Cadwalader attorneys: Steven D. Lofchie; Glen P. Barrentine.