The Securities and Exchange Commission has approved the Financial Industry Regulatory Authority's proposal to delay the implementation date for know-your-customer (FINRA Rule 2090) and suitability rules (FINRA Rule 2111) until July 9, 2012. The previous implementation date was October 7, 2011. Following SEC approval of these rules, many firms requested that the implementation date be delayed to allow firms additional time to determine the types of systems and procedural changes they need to make, implement those changes, and educate associated persons and supervisors regarding compliance with the rules.