(12) “Securities Act”The term “Securities Act” means the Securities Act of 1933, as amended.

(13) “Selling Group”The term “selling group” means any group formed in connection with a public offering, to distribute all or part of an issue of securities by sales made directly to the public by or through members of such selling group, under an agreement which imposes no financial commitment on the members of such group to purchase any such securities except as they may elect to do so.

(14) “Selling Syndicate”The term “selling syndicate” means any syndicate formed in connection with a public offering, to distribute all or part of an issue of securities by sales made directly to the public by or through participants in such syndicate under an agreement which imposes a financial commitment upon participants in such syndicate to purchase any such securities.

(15) “State”The term “State” shall mean any state of the United States, the District of Columbia, Puerto Rico, the Virgin Islands, or any other possession of the United States.

0170. Delegation, Authority and Access
(a) The Financial Industry Regulatory Authority, Inc. delegates to its subsidiaries (FINRA Regulation, Inc., and FINRA Dispute Resolution, Inc., hereinafter "Subsidiaries") the authority to act on behalf of FINRA as set forth in a Plan of Allocation and Delegation adopted by the Board of Governors and approved by the SEC pursuant to its authority under the Exchange Act.

(b) Notwithstanding any delegation of authority to the Subsidiaries pursuant to this Rule, the staff, books, records and premises of the Subsidiaries are the staff, books, records and premises of FINRA subject to oversight pursuant to the Exchange Act, and all officers, directors, employees and agents of the Subsidiaries are the officers, directors, employees and agents of FINRA for purposes of the Exchange Act.

0180. Application of Rules to Security-Based Swaps

(a) The Rules shall not apply to members' activities and positions with respect to security-based swaps, except for the following:
(1) FINRA Rule 2010;
(2) FINRA Rule 2020;
(3) FINRA Rule 3310; and
(4) FINRA Rule 4240.

(b) The following Rules shall apply to members' activities and positions with respect to security-based swaps only to the extent they would have applied as of July 15, 2011:
(1) NASD Rule 3110 and all successor FINRA Rules to such NASD Rule;
(2) the FINRA Rule 4500 Series; and
(3) the FINRA Rule 4100 Series.

(c) The following Rules shall apply as necessary to effectuate members' compliance with paragraphs (a) and (b) of this Rule:
(1) the FINRA Rule 0100 Series;
(2) the NASD Rule 1000 Series and all successor FINRA Rules to such NASD Rule Series;
(3) the FINRA Rule 1000 and 1100 Series;
(4) NASD Rules 3010 and 3012 and IM-3010-1 and all successor FINRA Rules to such NASD Rules and Interpretive Material;
(5) FINRA Rule 3130;
(6) the FINRA Rule 8000 Series; and
(7) the FINRA Rule 9000 Series.
(d) This Rule shall expire on February 11, 2014.

 Supplementary Material:

.01 Definition of Security-Based Swaps. For purposes of this Rule, "security-based swap" shall be as defined pursuant to Exchange Act Section 3(a)(68) and the rules and guidance of the SEC or its staff.