NASD Notice to Members 97-88 - December 1997

SEC Approves Amendment to Three Quote Rule Granting Staff Exemptive Authority; Effective Immediately

Executive Summary

On October 22, 1997, the Securities and Exchange Commission (SEC or Commission) approved an NASD Regulation, Inc. (NASD RegulationSM) proposed amendment to National Association of Securities Dealers, Inc. (NASD®) Rule 2320 (Three Quote Rule) that provides the staff of NASD Regulation’s Office of General Counsel authority to grant exemptions, under certain circumstances, from the provisions of the Three Quote Rule (SEC Rel. No. 34-39266).

 

Questions concerning this Notice may be directed to David A. Spotts, Senior Attorney, Office of General Counsel, NASD Regulation, at (202) 728-8071.