SIFMA provides comments to the Financial Industry Regulatory Authority (FINRA) on proposed amendments to FINRA Rule 5110 (the Corporate Financing Rule) regarding certain deferred compensation arrangements in public offerings (the Deferred Compensation Proposal), FINRA Regulatory Notice 12-27.  Although SIFMA agrees with the rationale and intent of the Deferred Compensation Proposal and encourages swift action to implement the changes proposed, it recommends certain modifications to the actual text of the proposed revisions.