[ by Howard Haykin ] FINRA filed for immediate effectiveness to make non-substantive technical changes to the Supplemental Statement of Income ("SSOI") required to be filed pursuant to FINRA Rule 4524, Supplemental FOCUS Information. FINRA also requested that the SEC waive the requirement that the proposed rule change not become operative for 30 days after the date of the filing, so that FINRA may give as much time as possible to firms to prepare before the 10/26/12 due date of the initial SSOI. As Drafted, FINRA Rule 4524, Supplemental FOCUS Information ... 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.  FINRA has adopted one such schedule, the SSOI, as a supplement to the Statement of Income (Loss) page of the FOCUS Report. FINRA is making non-substantive technical changes to the SSOI to provide more clarity, reduce unnecessary duplication and reflect a renumbering change to the Securities Act of 1933 ("Securities Act") as a result of the Dodd-Frank Act.  The changes are, as follows:

• amend title of line 13935 (Equities, ETFs and Closed End Funds) to clarify that commissions reported are for listed equities, ETFs and closed end funds executed on an exchange.
• delete line 11299 (Total Net Income) because it's duplicative of line 14230 (Net income (loss) after Federal income taxes and extraordinary item).
• renumber Securities Act Section 4(6) to Securities Act Section 4(5) in Item D (Federal Exemptions and Exclusions Claimed) of the Operational Page. The Dodd-Frank Act renumbered Securities Act Section 4(6) to Securities Act Section 4(5).  Also, FINRA is clarifying Item D by adding an “Other” line because Item D is designed to capture all federal exemptions and exclusions claimed for an unregistered offering.
• delete the word “Forms” in front of Part II, Part IIA or Part II CSE in the first paragraph of the instructions.
• amend instructions to clarify that all revenue and expense items must be reported in accordance with U.S. GAAP ("generally accepted accounting principles").
• amend instructions to clarify that line 13940 (Total Commissions) will equal line 3940 (Total securities commissions) of Part II and IIA of the FOCUS Report if the firm did not have commissions from forex transactions during the reporting period.
• delete instructions that state line 13950 (Total Net Gains or Losses on Principal Trades) must equal line 3950 (Total gains or (losses)) of Part II CSE and Part II or line 3950 (Total gain (loss)) of Part IIA of the FOCUS Report as depending on the facts and circumstances, the lines may not be equal.
• amend instructions to clarify that line 14075 (Total Interest and Dividend Expenses) will equal line 4075 (Interest expense) of the FOCUS Report only if the firm did not have dividend expense.
• delete instructions for line 13937 (Exchange Listed Equity Securities Executed OTC) as they are unwarranted because the title of line 13937 provides sufficient clarity for what needs to be reported.
• add instructions for line 13939 (All Other Securities Commissions) to clarify that commissions for unlisted equities should be included.
• delete instructions for line 14100 (Other Expenses) that reference the inclusion of 12b-1 service and distribution fees and other expenses not otherwise provided for in the SSOI. Line 11211 (12b-1 Fees) captures 12b-1 fees paid to other broker-dealers or institutions.

For further details, go to:  [FINRA Rule Filing 12-33, 6/26/12].