diff --git a/DD/FTDs-Before-and-After-Rule-203-and-204.md b/DD/FTDs-Before-and-After-Rule-203-and-204.md
new file mode 100644
index 0000000..3d204a0
--- /dev/null
+++ b/DD/FTDs-Before-and-After-Rule-203-and-204.md
@@ -0,0 +1 @@
+https://financialreview.poole.ncsu.edu/wp-content/uploads/2015/07/Fails-to-deliver_before_and_after_the_implementation_of_Rule_203_and_Rule_204.pdf