Public Policy Sessions Letter

Dear NASD Member Firms:

 

At the request of Arthur Levitt, Chairman of the Securities and Exchange Commission, NASD Regulation, Inc. invited a group of members and their advertising agencies to discuss the public policy implications of member advertisements for online brokerage services, particularly advertisement on television. Three meetings were held, on June 24, June 30, and July 1, 1999. These meetings set the stage for an ongoing dialogue about the legal and ethical responsibilities of NASD members when they advertise their services.

 

Enclosed is a summary document—Public Policy Sessions Concerning the Advertisement of Online Brokerage—outlining the topics discussed by the industry participants at these sessions. We hope that this document will not only provide information on the results of the sessions, but will also provide guidance on this very timely and vital issue to our industry. 

 

I hope that you will take the opportunity to review the document. You may direct questions about the attached document to the Advertising/Investment Companies Regulation Department at (202) 728-8330.

 

Sincerely,

 

Mary L. Schapiro
President