Special NASD Notice To Members 97-66 - September 1997

Industry/Regulatory Council on Continuing Education Publishes Firm Element Practices and Council Commentary

Executive Summary

On February 8, 1995, the Securities and Exchange Commission (SEC) approved Rule 1120 (formerly Schedule C, Part XII of the National Association of Securities Dealers, Inc., By-Laws) of the NASD® Membership and Registration Rules, which prescribes requirements for the Securities Industry Continuing Education Program (Program). The Program has two elements—a Regulatory Element and a Firm Element—and became effective July 1, 1995.