NASD Notice to Members 97-01 - January 1997

Approval of Telemarketing Amendments

Executive Summary

On December 2, 1996, the Securities and Exchange Commission (SEC) approved new NASD Conduct Rule 2211 to impose time restrictions and disclosure requirements regarding telephone calls to customers by members and their associated persons. The SEC also approved amendments to NASD Conduct Rule 3110 to require members and their associated persons to follow certain procedures regarding customer authorization of a demand draft. (see endnote 1) The new telemarketing rules are effective immediately.

 

Questions concerning this Notice may be directed to Robert J. Smith, Senior Attorney, Office of General Counsel, NASD Regulation, Inc., at (202) 728-8176.