NASD Notice To Members 97-65 - September 1997

Administrative Termination of Registrations Inactive for Two Years for Failing to Comply With Continuing Education Regulatory Element Requirements; CRD to Provide Firms With Advisory Messages

Executive Summary

This Notice is to remind firms that registered persons whose registrations become inactive as defined in Rule 1120 of the National Association of Securities Dealers, Inc. (NASD(r)) Membership and Registration Rules (Continuing Education Requirements), and who remain inactive for two years, will be administratively terminated and can re-register only by reapplying for registration and requalifying by examination.


Beginning August 29, 1997, the Central Registration Depository (CRDSM) will provide firms with advisory messages approximately 60 days before the effective date of an administration termination for being inactive for two years (see Exhibit 1), and when the administrative termination occurs (see Exhibit 2).

Questions about this Notice may be directed to John Linnehan, Director, Continuing Education, NASD RegulationSM, at (301) 208-2932 or to the following CRD Quality & Service Teams:

Team 1 (301) 921-9499
Team 2 (301) 921-9444
Team 3 (301) 921-9445
Team 4 (301) 921-6664
Team 5 (301) 921-6665